A recurring deposit of Rs. 5000 per month for 12 installments will grow to ______ at the end of 12 months for the given nominal interest rate of 12 percent, but compounded monthly (consider deposit being done on the last day of the month and also accrual of interest being calculated on the last day of the month).

A recurring deposit of Rs. 5000 per month for 12 installments will gro

1.	A recurring deposit of Rs. 5000 per month for 12 installments will grow to ______ at the end of 12 months for the given nominal interest rate of 12 percent, but compounded monthly (consider deposit being done on the last day of the month and also accrual of interest being calculated on the last day of the month).
A.	Rs. 60,000
B.	Rs. 62,834
C.	Rs. 63,413
D.	Rs. 64,047
Answer» D. Rs. 64,047

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