She wants to know that if she withdraws this money in monthly installments at the END of the month for 7 years, then how much will be the each installment amount?

Section A (1 Mark)

Mansi has deposited Rs. 7,00,000/- in a bank today @ ROI of 10 % per annum compounded monthly.

She wants to know that if she withdraws this money in monthly installments at the END of the month for 7 years, then how much will be the each installment amount?
A . 10788.23
B . 13012.23
C . 11,620.82
D . 12012.23

View Answer

Answer: C