Loan EMI calculator

The instalment is the standard reducing-balance formula, P x r x (1+r)^n / ((1+r)^n - 1) with r the monthly rate, charged monthly on the outstanding balance. The schedule runs at full precision and folds any rounding into the last instalment, so principal always closes the balance out to exactly zero. It assumes a fixed rate for the whole term; floating rates, prepayments, processing fees, insurance and taxes are not modelled here.