function loan_close_date($outstanding, $roi, $emi, $update_date)
{
	$nop = 0; // number of payments

	while($outstanding>$emi)
	{
		$interest = $outstanding*$roi/1200;
		$outstanding = $outstanding + $interest - $emi;
		$nop = $nop + 1;
	}
	
	$days = ceil(30* $outstanding / $emi);
	$ud = date('Y-m-d', strtotime("+".$nop." months", strtotime($update_date)));
	$ud = date('Y-m-d', strtotime("+".$days." days", strtotime($ud))); 

	return $ud;
}