title: how to compound the interest monthly in recurring deposit calculation?
body: <p>how to calculate recurring deposit in monthly basis? </p>
  
  <pre><code>M = ( R * [(1+r)n - 1 ] ) / (1-(1+r)-1/3) 
  
  M is Maturity value
  R is deposit amount
  r is rate of interest
  n is number of quarters
  </code></pre>
  
  <p>if i take 'n' as 4(no of Quarters) for 1 year its showing yearly Maturity value.can anyone tel me how to do <strong>monthly</strong> calculation.Thanks</p>