What is SIP and how does it work?
SIP (Systematic Investment Plan) is a method of investing a fixed amount in mutual funds at regular intervals. The power of compounding and rupee-cost averaging make SIP one of the most efficient ways to build long-term wealth.
Future Value formula
FV = P × ((1+r)n − 1) / r × (1+r), where P is monthly SIP, r is monthly rate of return, n is total months.