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

## Answers ( )

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 =