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How much would I have to save?

ProfilePosted byOptionsPost Date

James

James Report 28 Mar 2006 13:46

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

☼ Orangeblossom ☼ - Tracy

☼ Orangeblossom ☼ - Tracy Report 28 Mar 2006 12:56

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

Ginny

Ginny Report 28 Mar 2006 12:56

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.

Dizzy Lizzy 205090

Dizzy Lizzy 205090 Report 28 Mar 2006 12:53

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

James

James Report 28 Mar 2006 12:50

What if a company made a mistake and paid the wrong amount?

Ginny

Ginny Report 28 Mar 2006 12:43

Well spotted Liz, missed a nought off ! How are you today? Ginny x

Dizzy Lizzy 205090

Dizzy Lizzy 205090 Report 28 Mar 2006 12:41

Ginny, Are you sure thats right? **scratches head, counts on fingers, gives up** Liz Oh, you updated now!

Maz (the Royal One) in the East End 9256

Maz (the Royal One) in the East End 9256 Report 28 Mar 2006 12:40

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

Ginny

Ginny Report 28 Mar 2006 12:40

£10,500 if the interest rate is 5% as with ING

Barbara

Barbara Report 28 Mar 2006 12:39

Takes of socks.........

Karen

Karen Report 28 Mar 2006 12:37

Hello James Not got a clue, dont understand all that stuff! lol x karen

James

James Report 28 Mar 2006 12:36

to earn £525 a year in interest?