2006-11-12 02:04:02 · 2 answers · asked by Nathan 2 in Business & Finance ➔ Personal Finance
Just an Example: At the end of every month, you put Rupees / $ 100 in to recurring deposit that pay 6%, compounded monthly. To get Future Value after 5 years (60Months):
P = 100; i=6%/12=0.005; A=0(starting no money); N = 60
Formula :
= A(1+i)^N + (P/i)[1+i)^N - 1]
= + (100/0.005)(1.005^60 - 1)
6977/-
If any problem to understand, you can use Excel, Select function and there is build in FV (Future value) calculator.
By : www.chennaizoom.com
2006-11-12 03:00:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Take the P.V. Vaue for the 10 years and then take the %of interest and then the money U Need to Deposit with the Bank in the R.D. and then multiply with the amount and the P.V then find the maturity value for it
2006-11-12 02:11:14 · answer #2 · answered by Ramasubramanian 6 · 0⤊ 0⤋
Left to me ;I would go with Jayanth.
2016-03-19 06:50:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋