Question

Suppose, you are a manager in a bank. Explain to a customer about 'recurring deposit account'.​

Answer 1

Suppose you want to make an RD account with HDFC and your initial amount is 3000/-. And you are making this account for 12 months. In that case the interest rate of the same amount of the same period which is applicable to any FD account will be the same for the RD account. ... For 12 months it will be 12*3000+ interest.

please mark it as brainliest one.

Answer 2

Answer:

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$\bigstar$The first step towards financial security is taking control of your finances. Money management is an art which includes saving the right amounts and investing in the right instruments. However, there are several factors such as inflation and time that lower the value of money. Therefore, it is necessary to learn how to calculate the worth of one's investments.✔

$\bigstar$Several financial planning calculators are available on the web. However, it is also important to know some basic formulae that you can use to do your own calculations.