5cs of credit Emi calculations

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Accepted Answer

The 5 Cs of credit are character, capacity, capital, collateral, and conditions. EMI calculations involve determining monthly payments.

The 5 Cs of credit are important factors considered by lenders when evaluating a borrower's creditworthiness.
Character refers to the borrower's reputation and credit history.
Capacity refers to the borrower's ability to repay the loan.
Capital refers to the borrower's assets and net worth.
Collateral refers to assets that can be used as security for the loan.
Conditions refer to the purpose of the loan and economic conditions.
EMI calculations involve determining the monthly payments required to repay a loan.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is the principal amount, R is the interest rate, and N is the number of months.
EMI calculators are available online and can help borrowers plan their finances.

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