As part of a reasonable check to make sure that the calculations for the accumulated savings make sense under the fixed rate option the following was computed
Estimated total deposit = Monthly deposit * 12 * Deposit Term * (1+i)^(Deposit term/2)
This assumed even repayments are made over the year.
I don't quite understand how this formula is valid. In its current state it shows that we have 24,000 accumulating over 1 year