Question

How much amount is required to be invested every year so as to accumulate Rs. 3,00,000 at the end of 10 years if interest is compounded annually at 10%
maths by Narsh nagar
​

Answer 1

Answer:

For a daily interest rate, divide the annual rate by 360 (or 365, depending on your bank).

...

Monthly Interest Rate Calculation Example

Convert the annual rate from a percent to a decimal by dividing by 100: 10/100 = 0.10.

Now divide that number by 12 to get the monthly interest rate in decimal form: 0.10/12 = 0.0083.