Question

Find the interest and maturity value on a cumulative deposit of Rs. 2000 per month where time = 18 months, normal Rd= 5%, senior citizen rd= 5.5%. ​

Answer 1

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RD or Recurring Deposits are an investment tool which allows investors to make regular monthly payments and save money for the long term. Investors can choose the tenure of the deposit and the minimum monthly payment they wish to make according to their convenience.