Math formula for loans | XM Community
Skip to main content

Hello.
I am trying to build a math formula to calculate monthly loan repayments. Based on the formula below:
If you borrow 10,00,000 from the bank at 10.5% annual interest for a period of 10 years (i.e., 120 months), then
EMI = 10,00,000 * 0.00875 * (1 + 0.00875)^120 / ((1 + 0.00875)^120 - 1) = 13,493.

(
https://emicalculator.net/
)


BUT the formula is not working:
$e{ (e://Field/Loanamount * e://Field/Percentage * ((1 + e://Field/Percentage) ^ e://Field/Totalmonths)) / (((1 + e://Field/Percentage) ^ e://Field/Totalmonths) - 1) }

Very grateful if someone can give me a helping hand or advice.
Thank you guys for your help.
Regards,
Gilles

You need to delimit everything with spaces:
$e{ ( e://Field/Loanamount * e://Field/Percentage * ( ( 1 + e://Field/Percentage ) ^ e://Field/Totalmonths ) ) / ( ( ( 1 + e://Field/Percentage ) ^ e://Field/Totalmonths ) - 1 ) }


Leave a Reply