EMI Calculation formula in SQL server

DECLARE

 @LoanAmount MONEY = '7537500.00'

,@ROI FLOAT = 11

,@Tenure NUMERIC(18,2) = 12

,@EMI MONEY

SET @ROI = (@ROI/100)/12

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

SELECT @EMI = ROUND((@LoanAmount * @ROI * POWER((1 + @ROI), @Tenure))  / (POWER((1 + @ROI), @Tenure) - 1),3) 

SELECT @EMI

Output

666176.751

Note:-

P - Loan Amount

R - Rate of Interest

N - Tenure/Loan Period

Depend upon your requirement, you may change round off figure.