Whether you are investing or borrowing in Alabama, knowing the exact figures for a ₹1,50,00,000 mortgage will put you ahead. Here is the mathematical proof for your financial strategy.
Subject to Old/New Tax Regimes under Section 80C
Using the standard amortization formula:
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ - 1)
Where P = ₹1,50,00,000