Question
Mr. Majod started to deposit 6000 each year since year 2000 for next five years at rate of 8% per annum compounded anually in his
Mr. Majod started to deposit 6000 each year since year 2000 for next five years at rate of 8% per annum compounded anually in his sabing account till 2005. His first deposit was on december 31, 2005. After five years he withdrew Rs 15000 from this account on January 1, 2006 and did not deposit any amount for next 3 years. After this gap he got a job in the start of 2009 and started to deposit Rs. 3000 at the end of every month into another saving account which bears 12% rate of return compounded monthly. His first monthly deposit was in last week of January 2009. He also transferred his old savings into this new account. How much amount he has in his account as of December 31, 2021.
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