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mathematical formula for recurring deposit. Maturity amount in this case at the end of 30 months will be 3503178. The interest on the recurring deposit account can be calculated by using the formula.
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A recurring deposit account of 1200 per month has a maturity value of 12440. An individual invests a monthly installment of 1200 at the interest rate of 10 for 10 quarters. 400 n 20 months r 85.
Installment per monthP 1200 Number of monthsn n Let rate of interestr 8 pa.
Maturity amount in this case at the end of 30 months will be 3503178. Find the amount he will get at the tie of maturity if the rate of interest is 85 p. A Maturity amount. The interest on the recurring deposit account can be calculated by using the formula.
