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Robert has a reccuring deposit account in a bank. He deposits $1500 per month for 4 years. If he gets $ 1,01,250 at the time of maturity, find

• the intrest paid by the bank,
• the rate of intrest.​

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FireFlight

Answer:

1)$ 65250

2)

Step-by-step explanation:

Amount Deposited in 24 months = $1500 × 24 = $ 36000

Maurity amount = $ 1,01,250

1) So, intrest paid by the bank= $1,01,250 - $65,250

2)

Sorry, I tried to do this part but I got it wrong. please forgive me, may some genious save you.

Answer:

1)$ 65250

Step-by-step explanation: