| http://www.w3.org/ns/prov#value | - Usually, daily rest is slightly cheaper than monthly rest and is really useful while pre-paying a part or the whole of your loan.Suppose you take on a loan for 10,00,000 rupees for 10 years at 8.5% per annum.If your balance is calculated on a monthly rest basis, P is 1000000, n is (10 years ?? 12 months/year) or 120 months and r is (8.5 / 100) / 12 - the EMI then comes to about 12,398.57 r
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