# EMI Calculator (C program to calculate EMI)

EMI Calculator: This program will read total loan amount (principal), rate and time in years and prints the per month EMI of that loan amount.

The formula used in this program is:
(P*R*(1+R)T)/(((1+R)T)-1)

Here,

• P is loan amount.
• R is interest rate per month - we will read in yearly and convert in monthly in program.
• T is loan time period in year - we will read in yearly and convert in monthly in program.

## EMI Calculator program in C

```/*EMI Calculator (C program to calculate EMI).*/

#include <stdio.h>
#include <math.h>

int main()
{
float principal, rate, time, emi;

printf("Enter principal: ");
scanf("%f", &principal);

printf("Enter rate: ");
scanf("%f", &rate);

printf("Enter time in year: ");
scanf("%f", &time);

rate = rate / (12 * 100); /*one month interest*/
time = time * 12; /*one month period*/

emi = (principal * rate * pow(1 + rate, time)) / (pow(1 + rate, time) - 1);

printf("Monthly EMI is= %f\n", emi);

return 0;
}
```

Output:

```    Enter principal: 20000
Enter rate: 10
Enter time in year: 2
Monthly EMI is= 922.899536
```

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