Math, asked by satayashalakale, 7 months ago

Ritu nets 34960 after 5 years how much money should she deposit every month in RD .? account to get required money after 5 years rate of interest being 8%

Answers

Answered by sidhujasmeet

1

= FV(Rate,Nper,Pmt,Pv,Type)

Modified Rate of Interest: The interest rate in Recurring Deposits (in this case case of 8.75%) is compounded on quarterly basis. Whereas FV is calculated on monthly basis because we are making monthly deposits.So we cannot directly put the standard bank rate into the above formula.

explanation. mark as it brainiest..

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