0 Deepak BoraNewbie Asked: July 14, 20202020-07-14T11:38:05+05:30 2020-07-14T11:38:05+05:30In: ICSE Mrs. Goswami deposits Rs.1000 every month in a recurring deposit account for 3 years at 8 % interest per annum . Find the matured value. 0 Banking -Ex 2 bankingmatured valuequestion Share Facebook 1 Answer Voted Oldest Recent Deepak Bora Newbie 2020-07-14T11:53:58+05:30Added an answer on July 14, 2020 at 11:53 am Matured value = P x n +I I = P x (n(n+1))/24 x (r/100) I = 1000 x (36×37)/24 x (8/100) I = 1000 x (1332)/24 x 0.08 I = 1000 x 55.5 x 0.08 I = Rs.4440 M.V = P x n +I M.V = 1000 x 36 +4440 M.V = Rs.40440 0 Reply Share Share Share on Facebook Share on Twitter Share on LinkedIn Share on WhatsApp Leave an answerLeave an answerCancel reply Featured image Select file Browse Add a Video to describe the problem better. Video type Youtube Vimeo Dailymotion Facebook Choose from here the video type. Video ID Put Video ID here: https://www.youtube.com/watch?v=sdUUx5FdySs Ex: "sdUUx5FdySs". Click on image to update the captcha. Save my name, email, and website in this browser for the next time I comment. Related Questions Samita has a recurring deposit account in a bank of Rs 2000 per month at the rate of ... Mr. R.K. Nair gets Rs 6,455 at the end of one year at the rate of 14% per ... Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If ... Shahrukh opened a Recurring Deposit Account in a bank and deposited Rs 800 per month for 112 years. ... Mr. Gupta-opened a recurring deposit account in a bank. He deposited Rs. 2500 per month for two years. ...

Matured value = P x n +I

I = P x (n(n+1))/24 x (r/100)

I = 1000 x (36×37)/24 x (8/100)

I = 1000 x (1332)/24 x 0.08

I = 1000 x 55.5 x 0.08

I = Rs.4440

M.V = P x n +I

M.V = 1000 x 36 +4440

M.V = Rs.40440