Question 1

What is an amortization table?

Accepted Answer

It shows each month's EMI split into principal and interest portions, plus remaining balance.

Question 2

How does EMI formula work?

Accepted Answer

EMI = P × r × (1+r)^n / ((1+r)^n - 1) where P=principal, r=monthly rate, n=months.

Loan EMI Amortization Table