=== EMI Calculator ===
Contributors: rioemicalculator
Tags: emi, EMI Calculator, loan calculator
Requires at least: 4.0
Tested up to: 7.0
Stable tag: 1.4.0

A simple to use EMI Calculator widget that can be added via a shortcode in post content or page.

== Description ==

A simple to use EMI Calculator widget that can be added via a shortcode [rio-emi-calculator] in post content or page.

= Features =

* Easy to install and use.
* Lightweight and user friendly plugin.
* Customizable design.

== Screenshots ==

1. EMI Calculator Widget.
2. Plugin Backend Settings.


== Frequently Asked Questions ==

= How to Install the plugin? =

1.Activate Rio EMI Calculator from Plugins Menu.
2.Check Enable the Plugin from options page.
3.Use shortcode [rio-emi-calculator] in page/post to display the widget.

= How is EMI calculated? =

An Equated Monthly Instalment (EMI) is usually a fixed amount of money that you need to pay your bank or lender every month as repayment of a loan taken, until your loan is totally repaid.

The formula to calculate an EMI:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

P =loan amount or Principal

R = Interest rate per month
[To calculate rate per month: if the interest rate per annum is 14%, the per month rate would be 14/(12 x 100)]

N = the number of installments