2006-11-07 06:47:20 · 5 answers · asked by Gary Crant 7 in Business & Finance ➔ Investing
I think it is £3,401.80. x
2006-11-07 06:54:06 · answer #1 · answered by tulip 4 · 0⤊ 0⤋
Simple interest would amount to £3,401.80 per annum. However, most banks add the interest on a monthly basis, this is called compounding. Simply put your £73,000 would grow to £73,283.48 after the first month. At the end of the second month, the £73,283.48 would attract further interest of £284.58 making £73568.07. Assuming no change in the interest rate, your monthly interest would grow because it is calculated on the new balance each month. So at the end of 12 months, your investment would be £76,475.41p. That help?
2006-11-07 15:11:53 · answer #2 · answered by Gin & Tonic 4 · 0⤊ 0⤋
well the answer 2 yr queston lies in the question,4.66% is 4.66 pence in £1 so its £4.66 in £100 £46.60 in £1000 so multiply £46.00 by 73 and thats your answer...
2006-11-07 14:56:15 · answer #3 · answered by auto head 2 · 0⤊ 0⤋
It's not that simple really, because of the interest you will have to get on your interest as your money grows and don't forget the income tax you'll have to pay. It does my head in to try and calculate it. Best ask your bank or any bank.
2006-11-07 15:14:30 · answer #4 · answered by lauti1970 2 · 0⤊ 1⤋
4,66% APR? Compounded annually? If so, multiply 73000 x .0466 = £3401,80
2006-11-07 14:54:54 · answer #5 · answered by Anonymous · 0⤊ 0⤋