EMI Calculator Library

This Node.js library provides functions to calculate Equated Monthly Installment (EMI) for loans and mortgages.

Installation

To install the library, use npm:

npm install emi-calculator

Usage

Below is an example of how to use the library:

const emiCalculator = require('emi-calculator');

const principal = 100000;
const annualInterestRate = 10;
const tenureInYears = 1;

const emi = emiCalculator.calculateEMI(principal, annualInterestRate, tenureInYears);
console.log('EMI:', emi);

const totalPayment = emiCalculator.calculateTotalPayment(emi, tenureInYears);
console.log('Total Payment:', totalPayment);

const totalInterest = emiCalculator.calculateTotalInterest(totalPayment, principal);
console.log('Total Interest:', totalInterest);

API

calculateEMI(principal, annualInterestRate, tenureInYears)

Calculates the Equated Monthly Installment (EMI).

• principal (number): The principal loan amount
• annualInterestRate (number): The annual interest rate (in percentage)
• tenureInYears (number): The loan tenure (in years)
• Returns: number - The EMI amount

calculateTotalPayment(emi, tenureInYears)

Calculates the total payment amount over the loan tenure.

• emi (number): The EMI amount
• tenureInYears (number): The loan tenure (in years)
• Returns: number - The total payment amount

calculateTotalInterest(totalPayment, principal)

Calculates the total interest paid over the loan tenure.

• totalPayment (number): The total payment amount over the tenure
• principal (number): The principal loan amount
• Returns: number - The total interest paid

Tests

To run the tests, use npm:

npm test