2007-01-18 22:26:16 · 5 answers · asked by joelkmoss 1 in Business & Finance ➔ Personal Finance
Lets say for example, that the interest rate is 5% and I keep £100,000 in the bank for a full year.
2007-01-18 22:45:00 · update #1
silly question...just do the math and you'll find out that your answer is £5.000....
but I doubt that you can find such good rates, unless you have all your money into an ISA!!!
2007-01-22 22:16:39 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Depends on where and how you invest or save it. Generally you will earn about 5% at present (that is £5,000 per annum). Try to go for any scheme which offers tax free interest, and if you can leave it for a few years and not touch it you will get compounded interest and sometinmes a higher rate than is usually available.
Shop around but look at the rates carefully as the details can often make what aoppears to be a good rate, not as attractive because of hidden clauses and other restrictions.
2007-01-18 22:47:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It depends on the banks interest rate.
2007-01-18 22:29:56 · answer #3 · answered by hugmeister 1 · 0⤊ 0⤋
It depends on the bank and the type of account but it won't be enough to live on I can promise you that.
2007-01-18 22:44:18 · answer #4 · answered by gerrifriend 6 · 0⤊ 0⤋
it depends how long you leave it there, which bank and which rate of interest
2007-01-18 22:29:52 · answer #5 · answered by rykkers 3 · 0⤊ 0⤋
100000*0.05=5000
2007-01-22 06:42:54 · answer #6 · answered by Anonymous · 0⤊ 0⤋