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Mrs. Mathew opened a recurring Deposit account in a certain bank and deposited Rs. 640 per month

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Mrs. Mathew opened a recurring Deposit account in a certain bank and deposited Rs. 640 per month for 9/2 years. Find the maturity value of this account, if the bank pays interest at the rate of 12% per year.

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The amount that Manish will get at the time of maturity

= Rs. (640 × 54) + Rs. 9,504

= Rs. 34,560 + Rs. 9,504

= Rs. 44,064 Ans.

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