# C Program to Calculate Monthly EMI (Equated Monthly Installment)

#### This C program calculates an equated monthly installment (EMI).

EMI is calculated using following formula:

EMI = p * r * (1+r)n/((1+r)n-1)

Where:
p = Principal or Loan Amount
r = Interest Rate Per Month
n = Number of monthly installments

If the interest rate per annum is R% then interest rate per month is calculated using:
Monthly Interest Rate (r) = R/(12*100)

## C Source Code: EMI

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

int main()
{
float p, R, r, emi;
int n;

printf("Enter principal amount: ");
scanf("%f", &p);
printf("Enter annual interest rate: ");
scanf("%f", &R);
printf("Enter number of months: ");
scanf("%d", &n);

/* Calculating interest rate per month */
r = R/(12*100);

/* Calculating equated monthly intsallment (EMI) */
emi = p * r * pow(1+r,n)/(pow(1+r,n)-1);

printf("Monthly EMI: %f", emi);

return 0;
}
``````

Output

```Enter principal amount: 1000000
Enter annual interest rate: 7
Enter number of months: 120
Monthly EMI =  11610.847656
```