Scribd Logo
Upload

Welcome to Scribd!

  • Calculation of Returns From A Recurring Deposit Account

    Uploaded by

    L095244
    7 views1 page
    A person deposited Rs. 3000 into a recurring deposit account with an annual interest rate of 9%. Over the course of a year, interest was calculated and added to the principal each month, with the total increasing each period as interest was earned on the growing balance. By the end of the year, the total value of the recurring deposit had grown to Rs. 37755 from the initial Rs. 3000 principal and monthly interest accruals.

    Original Description:

    Original Title

    Calculation of Returns From a Recurring Deposit Account

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    XLS, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    A person deposited Rs. 3000 into a recurring deposit account with an annual interest rate of 9%. Over the course of a year, interest was calculated and added to the principal each month, with the total increasing each period as interest was earned on the growing balance. By the end of the year, the total value of the recurring deposit had grown to Rs. 37755 from the initial Rs. 3000 principal and monthly interest accruals.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    7 views1 page

    Calculation of Returns From A Recurring Deposit Account

    Uploaded by

    L095244
    A person deposited Rs. 3000 into a recurring deposit account with an annual interest rate of 9%. Over the course of a year, interest was calculated and added to the principal each month, with the total increasing each period as interest was earned on the growing balance. By the end of the year, the total value of the recurring deposit had grown to Rs. 37755 from the initial Rs. 3000 principal and monthly interest accruals.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    of 1

    Principal:

    Rate of interest:

    3000
    9

    Calculation of returns from a recurring deposit account


    Month Principal Interest (after Total
    1 year)
    1
    3000
    270.00 3270.00
    2
    3000
    247.50 3247.50
    3
    3000
    225.00 3225.00
    4
    3000
    202.50 3202.50
    5
    3000
    180.00 3180.00
    6
    3000
    157.50 3157.50
    7
    3000
    135.00 3135.00
    8
    3000
    112.50 3112.50
    9
    3000
    90.00 3090.00
    10
    3000
    67.50 3067.50
    11
    3000
    45.00 3045.00
    12
    3000
    22.50 3022.50
    37755.00 Grand Total

    You might also like