Deposit $ 100.

00
Rate per period 1.50%

Quarter Rate Beginning Balance Interest Ending Balance

(Start of the Month) (End of the Month) (End of the Month)
1 1.50% 100.00 1.50 101.50
2 1.50% 101.50 1.52 103.02
3 1.50% 103.02 1.55 104.57
4 1.50% 104.57 1.57 106.14

Effective Rate 6.14%

=(E9-B2)/B2

Effective Rate 6.14%

=EFFECT(6%,4)

6.00%
Calculate compound interest for recurring deposit in Excel
Method 1: Using FV Function

Input values Outputs Note

q

Recurring Deposit (RD): ₹ 30,000.00 << pmt

Payment Frequency: Monthly
Number of Years:
Annual Percentage Rate (APR):
Interest Compounded: Yearly
Present value:
<< npery (number of periods per year)
12
=VLOOKUP(C7,periodic_table,3,0)
<< nper (total number of payments)
3 36
=npery x number of years
7.000% << nominal_rate
1 =VLOOKUP(C10,periodic_table,3,0)
0 << pv

Payment type:
(Beginning of the Period = 0 1 << type
End of the Period = 1)

Effective Annualized Rate: 7.000% =EFFECT(nominal_rate,D10)

Rate for Monthly Compounding: 6.785% =NOMINAL(D13,npery)
Rate: 0.565% << rate

Maturity
₹ 1,200,793.81 =FV(rate,nper,-pmt,pv,type)
Value:

Method 2: Direct Method

Recurring Beginning Balance Interest

Paymnet No. Rate
Deposit (Start of the Month) (End of the Month)
1 ₹ 30,000.00 0.0057 30000.00 169.62
 2 ₹ 30,000.00 0.0057 60169.62 340.21
3 ₹ 30,000.00 0.0057 90509.83 511.76
4 ₹ 30,000.00 0.0057 121021.59 684.27
5 ₹ 30,000.00 0.0057 151705.86 857.77
6 ₹ 30,000.00 0.0057 182563.63 1032.24
7 ₹ 30,000.00 0.0057 213595.87 1207.70
8 ₹ 30,000.00 0.0057 244803.57 1384.15
9 ₹ 30,000.00 0.0057 276187.73 1561.61
10 ₹ 30,000.00 0.0057 307749.33 1740.06
11 ₹ 30,000.00 0.0057 339489.39 1919.52
12 ₹ 30,000.00 0.0057 371408.91 2100.00
13 ₹ 30,000.00 0.0057 403508.91 2281.50
14 ₹ 30,000.00 0.0057 435790.41 2464.02
15 ₹ 30,000.00 0.0057 468254.43 2647.58
16 ₹ 30,000.00 0.0057 500902.01 2832.17
17 ₹ 30,000.00 0.0057 533734.19 3017.81
18 ₹ 30,000.00 0.0057 566752.00 3204.50
19 ₹ 30,000.00 0.0057 599956.50 3392.24
20 ₹ 30,000.00 0.0057 633348.74 3581.05
21 ₹ 30,000.00 0.0057 666929.78 3770.92
22 ₹ 30,000.00 0.0057 700700.70 3961.86
23 ₹ 30,000.00 0.0057 734662.56 4153.89
24 ₹ 30,000.00 0.0057 768816.45 4347.00
25 ₹ 30,000.00 0.0057 803163.45 4541.20
26 ₹ 30,000.00 0.0057 837704.66 4736.50
27 ₹ 30,000.00 0.0057 872441.16 4932.91
28 ₹ 30,000.00 0.0057 907374.07 5130.42
29 ₹ 30,000.00 0.0057 942504.49 5329.06
30 ₹ 30,000.00 0.0057 977833.55 5528.81
31 ₹ 30,000.00 0.0057 1013362.36 5729.70
32 ₹ 30,000.00 0.0057 1049092.06 5931.72
33 ₹ 30,000.00 0.0057 1085023.78 6134.88
34 ₹ 30,000.00 0.0057 1121158.66 6339.19
35 ₹ 30,000.00 0.0057 1157497.86 6544.66
36 ₹ 30,000.00 0.0057 1194042.52 6751.29
 Ending Balance
(End of the Month)
30169.62
 60509.83
91021.59
121705.86
152563.63
183595.87
214803.57
246187.73
277749.33
309489.39
341408.91
373508.91
405790.41
438254.43
470902.01
503734.19
536752.00
569956.50
603348.74
636929.78
670700.70
704662.56
738816.45
773163.45
807704.66
842441.16
877374.07
912504.49
947833.55
983362.36
1019092.06
1055023.78
1091158.66
1127497.86
1164042.52
1200793.81