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How much would I have to save?
| Profile | Posted by | Options | Post Date |
|---|---|---|---|
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James | Report | 28 Mar 2006 12:36 |
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to earn £525 a year in interest? |
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Karen | Report | 28 Mar 2006 12:37 |
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Hello James Not got a clue, dont understand all that stuff! lol x karen |
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Barbara | Report | 28 Mar 2006 12:39 |
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Takes of socks......... |
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Ginny | Report | 28 Mar 2006 12:40 |
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£10,500 if the interest rate is 5% as with ING |
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Maz (the Royal One) in the East End 9256 | Report | 28 Mar 2006 12:40 |
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depends what type of account it is in I suppose - Barclays are advertising 10% on the TV - that would mean £5000 would give £500 interest in a year Maz. XX |
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Dizzy Lizzy 205090 | Report | 28 Mar 2006 12:41 |
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Ginny, Are you sure thats right? **scratches head, counts on fingers, gives up** Liz Oh, you updated now! |
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Ginny | Report | 28 Mar 2006 12:43 |
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Well spotted Liz, missed a nought off ! How are you today? Ginny x |
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James | Report | 28 Mar 2006 12:50 |
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What if a company made a mistake and paid the wrong amount? |
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Dizzy Lizzy 205090 | Report | 28 Mar 2006 12:53 |
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Very well thanks Ginny, busy putting off stripping wallpaper in the back bedroom as we speak lol. Sorry James, will exit your thread now as I am rubbish with money, and probably wouldn't notice if I was cleaned out completely. Liz |
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Ginny | Report | 28 Mar 2006 12:56 |
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There lies a moral dilemma, and a whole new thread lol I suppose it depends how big the discrepency is. If it is only a small amount, they may be calculating compound interest EG £1000 saved at 5% interest = £1000 + 50 = £1050 If it is paid monthly you will get slightly more as you get interest on the capital sum plus the monthly interest. |
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☼ Orangeblossom ☼ - Tracy | Report | 28 Mar 2006 12:56 |
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James, if they paid the wrong amount over, they will take it back once they realise. Don't go spending it incase they do lol |
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James | Report | 28 Mar 2006 13:46 |
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I don't think I have paid anything like that ammount into the plan, I am wondering if they have slipped an extra nought in somewhere. James |
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