Loans
POST calculateEmi [Junior]
/loans/calculateEmi
Description
Calculator used for getting the equated monthly installment (EMI) based on the amount borrowed, the interest, and the loan tenure (number of payments).
Request
Body parameters
Headers
No special headers present for this API. When implementing it, feel free to implement an OAuth header, or different content-type headers.
Example Request
var raw = "{\r\n \"principal\": 100000,\r\n \"interestRate\": 0.05,\r\n \"months\": 240\r\n}\r\n";
var requestOptions = {
method: 'POST',
body: raw,
redirect: 'follow'
};
fetch("http://localhost:3000/loans/calculateEmi", requestOptions)
.then(response => response.text())
.then(result => console.log(result))
.catch(error => console.log('error', error));
Response
Example Response Body
{
"emi": "659.96"
}
Example solutions of this API
No solutions yet. Be the first one to add a solution to get featured!
Additional resources
- An article that generally explains equated monthly installments (EMIs) and shows the mathematics and economics behind them here.