Do you know the power of compounding ?
Suppose we want to invest Rs.1000 monthly in bank @9% interest rate, then the gains at various periods and various compounding is shown below,
Hence here after do ask the bankers , how they are compounding the interest?
Suppose we want to invest Rs.1000 monthly in bank @9% interest rate, then the gains at various periods and various compounding is shown below,
| NO. OF | DAILY | MONTHLY | QUARTER | YEARLY |
| YEARS | COMP | COMP | COMP | COMP |
| 1 | 12603.72 | 12601.39 | 12596.82 | 12577.3 |
| 2 | 26394.38 | 26384.88 | 26366.18 | 26286.55 |
| 3 | 41483.77 | 41461.36 | 41417.25 | 41229.64 |
| 4 | 57994.19 | 57952.12 | 57869.32 | 57517.61 |
| 5 | 76059.47 | 75989.82 | 75852.81 | 75271.49 |
Hence here after do ask the bankers , how they are compounding the interest?
No comments:
Post a Comment