How much the amount will be after three years if deposited $500 per month for three years @4%per annuam. kindly show me the calculation formula also.
How much the amount will be after three years if deposited $500 per month for three years @4%per annuam. kindly show me the calculation formula also.
This is if you put the money in at the end of each month.
C=500
i= 0.04/12=0.00333333333333333
n=3*12=36
You can do the substitution yourself.