1. Mr. Rajiv Anand has opened a recurring deposit
account of 400 per month for 20 months in a bank.
Find the amount he will get at the time of maturity,
if the rate of interest is 8.5% p.a., and if the interest
is calculated at the end of each month.
It's of Chapter Banking I need step by step solution.
Answers
Answered by
0
Answer:
400×20 is your answer ......
Answered by
0
Answer:
MV= Rs 8595
Step-by-step explanation:
MV= P X n(n+1) X R + P X n
________ _____
2*12 100
MV= 400 X 20 (20) X 85 + 400 X 20
___________ ___
24 10
MV= 595+8000
MV= Rs 8595
Hope it helps
Mark me as Brainliest please..
Similar questions