4.Mrs Goswami deposits Rs1000 every month in a recurring deposit account for 3 years
at 8% interest per annum. Find the matured value.
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P = 36 (36 + 1)/2 × 1000
Interest = 36 × 37 × 1000 × 8/2 × 12 × 100
= 12 × 37 × 10 = 4440
Matured value = 36000 + 4440
= ₹ 40440.
Hence Matured value =Rs.40440
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