Question

EXERC
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.​

Answer 1

Answer:

maybe it helps you

Step-by-step explanation:

Mr. rajiv anand has opened a recurring deposit account of rupees 400 per month for 20 months in a bank. find 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 each month.

Answer 2

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

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