calculated at the end of every month
& Shabnam deposited 150 per month in a bank for 2 years under the recurring deposit

Question

calculated at the end of every month
& Shabnam deposited 150 per month in a bank for 2 years under the recurring deposit scheme.
What will be the maturity value of her deposits, if the rate of interest is 7% pa and the interestis
calculated half yearly?​

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Savannah 2 months 2021-08-02T04:32:35+00:00 1 Answers 0 views 0

Answers ( )

    0
    2021-08-02T04:33:51+00:00

    Answer:

    given

    p=150€

    n=2×12=24 month

    r=7%

    soln

    • a=pxn (n+1)/2x12xr/100
    • a=150 x 24 (24+1)/ 2x12x7 / 100
    • a=150 x 25 x 7/100
    • a=262.5
    • sum dispose=p x n= 150×24 = $ 3600
    • maturity amount will be: $ 3600+262.5 =

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