2007-02-19 04:10:15 · 9 answers · asked by susan w 1 in Business & Finance ➔ Personal Finance
£7. But do you pay tax?
2007-02-19 04:13:26 · answer #1 · answered by e t 1 · 0⤊ 1⤋
£7
2007-02-19 04:16:16 · answer #2 · answered by Ellie P 2 · 0⤊ 0⤋
100 +7 = 107
2007-02-19 04:13:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
What's the APY? The interest rate is one component, but you need to take into account the fees and how often compounding occurs. The APY takes everything into account.
To compare bank rates, use the APY - so you are making an "apples to apples" comparison.
Good Luck!
2007-02-19 04:18:34 · answer #4 · answered by ManOfTheHour 5 · 0⤊ 0⤋
If the AER is 7% then you will make 7% in one year - i.e. 0.07 * 100 = £7.
But your bank will probably deduct tax at 20% so you will actually make £5.60
2007-02-19 04:15:56 · answer #5 · answered by Robin the Electrocuted 5 · 0⤊ 0⤋
Tell us what bank is paying 7% we will all invest....
2007-02-19 04:20:12 · answer #6 · answered by iain xx 4 · 0⤊ 0⤋
If yoou leave it there for one year you will get an extra £7.
Did you really need us to tell you that?
2007-02-19 04:15:12 · answer #7 · answered by Davy B 6 · 0⤊ 0⤋
After bank charges you will probably have GBP99.
2007-02-20 04:16:26 · answer #8 · answered by Piet Strydom 3 · 0⤊ 0⤋
should be £107 (total)
2007-02-19 04:18:02 · answer #9 · answered by fuz_nanji 1 · 0⤊ 0⤋