{"slug":"emi","name":"EMI Calculator","category":"fortune","tags":["spending","planning"],"tagline":"Loan EMI, total interest, and the flat-rate trap that makes 10% cost like 18%.","endpoint":"https://xearno.tools/api/v1/tools/emi","page":"https://xearno.tools/t/emi","description":"Equated Monthly Instalment for any loan — home, car, personal — with total interest over the tenure and the one warning every borrower comparing offers needs: flat rate and reducing-balance rate are not the same thing.","inputSchema":{"type":"object","properties":{"principal":{"description":"Loan amount","type":"number","minimum":1,"default":1000000},"rate":{"description":"Interest rate (reducing balance) (%)","type":"number","minimum":0,"maximum":40,"default":9},"months":{"description":"Tenure (mo)","type":"number","minimum":1,"maximum":480,"default":120}},"required":[],"additionalProperties":false},"methodology":["EMI = P·i·(1+i)ⁿ / ((1+i)ⁿ − 1) with monthly rate i — the standard reducing-balance formula used by banks. The flat-rate equivalent shown is total interest ÷ principal ÷ years, the number a flat-rate quote hides behind."],"usage":"POST https://xearno.tools/api/v1/tools/emi with a JSON body matching inputSchema."}