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