how to calculate savings deposit..plss help​

Question

how to calculate savings deposit..plss help​

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Kinsley 3 weeks 2021-10-05T06:29:34+00:00 1 Answer 0 views 0

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  1. Emma
    0
    2021-10-05T06:31:27+00:00

    Step-by-step explanation:

    the formula to calculate savings deposit is:-

    1) intrest on savings account = daily balance*rate of intrest* (no. of days=365)

    2) intrest = principal *rate of intrest

    3) intrest: 100,000*8%=8000

    4) total maturity value= 100,000+8000 = rs. 1,08,000

    5) intrest(6months): 100,000*5.5%=5500

    6) Pre-maturity value(6 months) = Rs.1,05,500

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