Banking: Recurring Deposit Accounts

Mathematics · Chapter 2 · 1. Commercial Mathematics

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Visual lesson Beta
1. Part 1: How the interest is earned18 slides
2. Part 2: Maturity value and inverse problems18 slides
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7 sections with key terms, formulas and exam tips.
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Flashcards Beta
30 cards for quick recall of key terms and facts.
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69 board-style questions with instant checks: Multiple choice 20, Short answer 15, Numerical 8, Fill in the blanks 7.
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Chapter test Free
Short and long chapter tests in board pattern, with results and analysis.
- Chapter test (long) — Banking: Recurring Deposit Accounts · 40 marks · 90 min
- Chapter test (short) — Banking: Recurring Deposit Accounts · 20 marks · 45 min
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Recurring deposit accounts: monthly instalment, period and interest I = P x n(n + 1)/(2 x 12) x r/100
Maturity value MV = P x n + I
Inverse problems: finding the instalment, rate of interest or number of months