R d ( recurring deposit interest simple fourmla)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2015
Resp. Sir,
Please explain RD Interest Calculation Simple
Formula with one example.
Regards,
Please explain RD Interest Calculation Simple
Formula with one example.
Regards,
09 December 2015
Formula Used: M = ( R * [(1+r)n - 1 ] ) / (1-(1+r)-1/3)
Where,
M = Maturity value
R = Monthly Installment
r = Rate of Interest (i) / 400
n = Number of Quarters
Where,
M = Maturity value
R = Monthly Installment
r = Rate of Interest (i) / 400
n = Number of Quarters
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