Anushka deposits ₹1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value
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Question

Anushka deposits ₹1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value

KnowledgeBoat · Accepted Answer

Here, P = money deposited per month = ₹1000, n = number of months for which the money is deposited = 3 x 12 = 36, r = simple interest rate percent per annum = 8 Using the formula: Using the formula: The amount Anushka will get at the time of maturity = ₹40440.

Mathematics

Anushka deposits ₹1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value

Banking

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