alleryStart learning →Each EMI payment is made up of which components?
APenalty plus tax
BOnly the principal
CInterest and principal
DOnly the interest
Answer & Solution
Correct answer: C. Interest and principal
Every installment repays part of the principal along with the interest due.
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Related questions
CAGR is used for annualized growth of economic data such as?Forecasting with CAGR multiplies the last value by what, once per year?CAGR is a good method to compare which of the following over several years?CAGR smooths the effect of what in periodic values?CAGR represents the mean ___ growth rate of compounding values.A loan whose every payment covers interest and principal is called?In Indian banking usage, EMI stands for?In the EMI formula, a 12% annual rate is used monthly as?