Help me with your mathematics knowledgeDear members, especially members expert in mathematics,
I am very poor in mathematics. I have a problem to solve. Kindly help me with your formulas.
In the year 1984, I wanted to help one of my relatives with some sum. I told him that I would give him Rs. 25/- per month for life long as pension commencing from the month of July 1984. He did not accept it saying that it was like a beggar's money. After a few months, he was ready and asked me to pay the sum. I refused and said that I do not wish to pay beggars money.
If I had started depositing Rs. 25/ per month w.e.f. July 1984 in a bank, what would be the sum accumulated till todate (May 2021)? It is about 36 years and 10 months. (442 months)
What would be the amount of compound interest accumulated at the rate of 8 percent per annum?
What would be the total amount held in my bank account