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R d ( recurring deposit interest simple fourmla)

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 December 2015 Resp. Sir,

Please explain RD Interest Calculation Simple
Formula with one example.

Regards,
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CA CS Jainam Shah

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CA CS Jainam Shah (Expert)
09 December 2015 Formula Used: M = ( R * [(1+r)n - 1 ] ) / (1-(1+r)-1/3)

Where,

M = Maturity value
R = Monthly Installment
r = Rate of Interest (i) / 400
n = Number of Quarters
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