state the formula for interest for recurring deposite account
Answers
Answered by
0
Answer:
M = Maturity amount. This formula is the formula for calculating compound interest. Banks generally compound interest quarterly on deposits. However, to calculate compound interest on recurring deposit, the balance at the beginning of the quarter is considered
Answered by
6
Answer:
MV = p × n +l
Step-by-step explanation:
maturity value = principal amount × no of months + interest
Similar questions