EMI stands for Equated Monthly Installment. It is a type of installment payment wherein an individual borrows funds from lenders either to purchase something or to repay a previous loan amount. When an individual borrows funds from a lender on EMI, they pay a fixed amount every month to the lender. The EMI includes both interest and principal amount, thus ensuring the loan amount is c... https://padlet.com/sudhamatikothari/what-is-emi-and-how-does-it-work-h5nd8kow80kuiuma