Interest on Recurring Deposit formula
This query is : Resolved
Deepak Agrawal
(Querist)
28 December 2008
Dear Friends,
Let me know the formula for calculating interest on recurring deposit.
For example:
If i deposit Rs.2000 per month for 10 years, what would be my interest after 10years @ 15% interest interst.
Let me know the formula for the same.
Let me know the formula for calculating interest on recurring deposit.
For example:
If i deposit Rs.2000 per month for 10 years, what would be my interest after 10years @ 15% interest interst.
Let me know the formula for the same.
K V Subba Rao
(Expert)
28 December 2008
Maturity amount is Rs 551048 for the following:
Monthly deposit Rs 2000
Period: 120 Months
Frequency of compounding: Quarterly
Rate of Interest: 15%
I found out Maturity Value with the help of Calculator provided by https://www.corpbanknet.com/
Anyway, please inform who is paying 15 %. I am a retiree; so I am interested in knowing sources who are prepared to pay 15% interest.
Monthly deposit Rs 2000
Period: 120 Months
Frequency of compounding: Quarterly
Rate of Interest: 15%
I found out Maturity Value with the help of Calculator provided by https://www.corpbanknet.com/
Anyway, please inform who is paying 15 %. I am a retiree; so I am interested in knowing sources who are prepared to pay 15% interest.
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