December 9, 2010 ↔ 2 comments
What is the Formula for Calculating Recurring Deposit?
What is the Formula for Calculating Recurring Deposit?,
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check the finanace calculator of banks online.
First find the total principle per month.
Formula P[ n/2 (n+1)]
Then find the interest.
Formula Total Principle calculated X rate/100 X 1/12
Then calculate the amount.
Formula P X n + interest calculated
Here P stands for money deposited per month and n stands for no. of months!