How to calculate interest on recuring deposite scheme?

Question

How to calculate interest on recuring deposite scheme?

Answer 1

You did not give enough info here.

Are you looking for the Future Value of the deposit? If so, assuming the interest compounds

a = p(1+r/12)^n

so if the interst rate is 6 % per year, you start with 1000, for 24 months,

a= 1000(1 + 0.06/12)^24

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