Question

Sonia had a recurring deposit account in a bank and deposited 3600 per
month for 2 years. If the rate of interest was 10% p.a., find the maturity
value of this account

Answer 1

Answer:

make me brainiest

Step-by-step explanation:

Principal = Rs 600

Time, n = 2.5 × 12

= 30 months

Rate of Interest = 10% p.a.

Now, Maturity value of the account is given by the formula :

Hence, The maturity value for the given account = Rs. 20325