How to calculate SIP returns?

I have seen many SIP calculator online. I noticed there are 2 different return value for same input.

For example:

Investment = 5000 | Duration = 1 year | Frequency = Monthly | Expect return = 12

Result on
Mutual Fund Shai hai - https://www.mutualfundssahihai.com/en/calculators = 63,412.52
Axis Bank = 63,413
ICICI Direct - https://www.icicipruamc.com/mutual-fund-calculators/wealth-through-sip = 64,047
HDFC = 64.047

I know mutualfundssahihai is the official website for the mutual funds in India, so there calculation will be correct.

However the formula for compounding interest is

FV =	P * ( R * ( 1+i )n -1 )	* ( 1 + i )
           ---------------------------------------------
                                  i

which returns 64.047.

So I am stuck in my calculation. Can anyone help me to figure out right formula or right calculation for SIP

@Bhuvanesh Can you .

What do you mean?

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