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The formula for EMI (in arrears) is: [2] = (+) or, equivalently, = (+) (+) Where: P is the principal amount borrowed, A is the periodic amortization payment, r is the annual interest rate divided by 100 (annual interest rate also divided by 12 in case of monthly installments), and n is the total number of payments (for a 30-year loan with monthly payments n = 30 × 12 = 360).
The latter amount, the interest component of the current payment, is the interest rate r times the amount unpaid at the end of month N–1. Since in the early years of the mortgage the unpaid principal is still large, so are the interest payments on it; so the portion of the monthly payment going toward paying down the principal is very small ...
Amortizing loan. In banking and finance, an amortizing loan is a loan where the principal of the loan is paid down over the life of the loan (that is, amortized) according to an amortization schedule, typically through equal payments. Similarly, an amortizing bond is a bond that repays part of the principal ( face value) along with the coupon ...
Annuity. In investment, an annuity is a series of payments made at equal intervals. [ 1] Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates. The payments (deposits) may be made weekly ...
Attenuation. In physics, attenuation (in some contexts, extinction) is the gradual loss of flux intensity through a medium. For instance, dark glasses attenuate sunlight, lead attenuates X-rays, and water and air attenuate both light and sound at variable attenuation rates. Hearing protectors help reduce acoustic flux from flowing into the ears ...
Electromagnetic shielding. Electromagnetic shielding cages inside a disassembled mobile phone. In electrical engineering, electromagnetic shielding is the practice of reducing or redirecting the electromagnetic field (EMF) in a space with barriers made of conductive or magnetic materials. It is typically applied to enclosures, for isolating ...
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Electromagnetic interference ( EMI ), also called radio-frequency interference ( RFI) when in the radio frequency spectrum, is a disturbance generated by an external source that affects an electrical circuit by electromagnetic induction, electrostatic coupling, or conduction. [ 1] The disturbance may degrade the performance of the circuit or ...