Can anyone work out how much 9 years of interest on £4,000 would be? - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HUKD, you accept our cookie and privacy policy.
Get the HUKD app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit

Can anyone work out how much 9 years of interest on £4,000 would be?

sickly sweet Avatar
6y, 6m agoPosted 6 years, 6 months ago
I was wondering if someone could work out what would be a fair rate of interest and how much it would add up to for 9 years (2001 to 2010) on £4,000?
Turns out I am owed this from my grandfather's estate when he died and it has only just come to my attention.
If you could show me how you worked out the accumulative interest I would be grateful as I have forgotten how to easily do this.
Thanks.
sickly sweet Avatar
6y, 6m agoPosted 6 years, 6 months ago
Options

All Comments

(64) Jump to unreadPost a comment
Comments/page:
Page:
banned#1
interest is pretty crap at the moment, even tied in bonds aint brillaint, you need to look around for the best before you can work out anything
#2
well surely we'd need the interest amount first, then times it on a calculator , £400 x10?%x 10?% each time?
banned#3
spobby
well surely we'd need the interest amount first, then times it on a calculator , £400 x10?%x 10?% each time?


You would also need to know the inflation :thumbsup: but they have asked what we think would be a fair interest.

Either way I would say 5%
#4
sassie
interest is pretty crap at the moment, even tied in bonds aint brillaint, you need to look around for the best before you can work out anything


Thanks but I'm trying to work out what it would have been for the past 9 years as my father was given the money on my behalf as I was under 18 when my grandfather died and he never put it in a special account or anything so I'm trying to work out what would be a fair sum to add on for interest.
#6
banned#7
sickly sweet
Thanks but I'm trying to work out what it would have been for the past 9 years as my father was given the money on my behalf as I was under 18 when my grandfather died and he never put it in a special account or anything so I'm trying to work out what would be a fair sum to add on for interest.


lol what? You not on good terms with your Dad or has he asked you to work it out?
#8
it depends whether you want to work out compound or simple and whether you want it to match the rate of inflation as it has been? or as standard loan interest?
#9
yea, you should be looking at 4% - 6% annually.. Dont think it will be anywhere near 10%

@ 4% per year, you'll be looking at £5,693.00
@ 6% it would be £6,757.00
#10
spobby
well surely we'd need the interest amount first, then times it on a calculator , £400 x10?%x 10?% each time?


chesso


Crikey! More than I thought, not sure I can ask for that, he's trying to give me the £4,000 without any interest which I think is mean but I know he's having some financial issues himself so I suppose that's why. Geeez, why does money have to bring with it so many issues?!
Thanks for everyone's help so far, I'll rep you all.
banned#11
sickly sweet
Thanks but I'm trying to work out what it would have been for the past 9 years as my father was given the money on my behalf as I was under 18 when my grandfather died and he never put it in a special account or anything so I'm trying to work out what would be a fair sum to add on for interest.


Was your father told to invest it at the best rates for you or just hold the £4k til your 18
If he wasn't instucted to invest it £4k + any interest it now has sounds a fair sum
#12
lumoruk
lol what? You not on good terms with your Dad or has he asked you to work it out?


Nah, really good terms but he's trying to give me the £4,000 with no interest so I want to have a figure which I think is fair before I talk to him otherwise asking for interest without having any idea of what I'm actually asking for will end in tears and confusion.
banned#13
sickly sweet
Crikey! More than I thought, not sure I can ask for that, he's trying to give me the £4,000 without any interest which I think is mean but I know he's having some financial issues himself so I suppose that's why. Geeez, why does money have to bring with it so many issues?!
Thanks for everyone's help so far, I'll rep you all.


Even in a crappy account he'll have earned interest on it, find out what account it was in then get the interest from that. If he has gained financially from the interest I would be peeved.
banned#14
to be honest i think you should just take the 4 grand, so ok he didnt put it in a good account, but that doesnt mean he should fit the bill
banned#15
sassie
to be honest i think you should just take the 4 grand, so ok he didnt put it in a good account, but that doesnt mean he should fit the bill


+1
fair do's if it was some big company, but this is your dad ffs
Unless you think he's deliberately trying to rip you off then just take the 4k
#16
whatsThePoint
Was your father told to invest it at the best rates for you or just hold the £4k til your 18
If he wasn't instucted to invest it £4k + any interest it now has sounds a fair sum


I don't know what he did with it - nor does he, it just got mixed in with the rest of the estate but he works in the financial sector so I can only assume he would have the sense to get some type of interest on it, but probably not invested as otherwise he'd be able to track where the money went.
#17
Just take the £4000, gheeeesh it's your dad ffs. Surely he's done enough in the rest of your life.
#18
Or let him just keep the 4K, bringing you up has already cost him over 100K i bet.
#19
sassie
to be honest i think you should just take the 4 grand, so ok he didnt put it in a good account, but that doesnt mean he should fit the bill


But he was entrusted with the money - he has high interest bank accounts, investments and the type so I do think it's fair that I get what would have been earnt on it.
It's just been an issue for a while - of his making, he should have put it away like he was advised to do by the executor and my mother on numerous occasions - and I have asked for the money on over 7 occasions over the years (not that I knew how much it was for, he wouldn't tell me) and always got a very angry response - he had a bad relationship with his father which I think has something to do with it.
#20
I'd just take the 4k tbh.

Ok sure he probably does "owe" you some interest if you like that would have accrued over the years, but if he is in the do-do finacially I'd leave it, it may end up ruining your relationship if you persue the interest.
#21
Daytrader
Or let him just keep the 4K, bringing you up has already cost him over 100K i bet.

Apparently it's closer to 500k nowadays.. :O
banned#22
sickly sweet
But he was entrusted with the money - he has high interest bank accounts, investments and the type so I do think it's fair that I get what would have been earnt on it.
It's just been an issue for a while - of his making, he should have put it away like he was advised to do by the executor and my mother on numerous occasions - and I have asked for the money on over 7 occasions over the years (not that I knew how much it was for, he wouldn't tell me) and always got a very angry response - he had a bad relationship with his father which I think has something to do with it.


So he's been messing you about and you think he'll make up for any interest lost on the money
I'd consider yourself lucky if you get the £4k out of him
#23
tinkerbell28
I'd just take the 4k tbh.

Ok sure he probably does "owe" you some interest if you like that would have accrued over the years, but if he is in the do-do finacially I'd leave it, it may end up ruining your relationship if you persue the interest.


Maybe, but my brother and mother are telling me to get a figure together for the interest and that I should ask for it, it's my mother (still with my dad, she just thinks my dad is being a scrooge and she's really putting pressure on me to persue this). My father was actually left out of his father's will, so actually maybe this has something to do with it.
banned#24
sickly sweet
Maybe, but my brother and mother are telling me to get a figure together for the interest and that I should ask for it, it's my mother (still with my dad, she just thinks my dad is being a scrooge and she's really putting pressure on me to persue this). My father was actually left out of his father's will, so actually maybe this has something to do with it.


then tell your mother to do her own dirty work :thumbsup:
banned#25
pinkleponkle
Just take the £4000, gheeeesh it's your dad ffs. Surely he's done enough in the rest of your life.


Daytrader
Or let him just keep the 4K, bringing you up has already cost him over 100K i bet.


sickly sweet
But he was entrusted with the money - he has high interest bank accounts, investments and the type so I do think it's fair that I get what would have been earnt on it.
It's just been an issue for a while - of his making, he should have put it away like he was advised to do by the executor and my mother on numerous occasions - and I have asked for the money on over 7 occasions over the years (not that I knew how much it was for, he wouldn't tell me) and always got a very angry response - he had a bad relationship with his father which I think has something to do with it.


It's his dad I take it? Don't ruin a relationship you have with your dad over his dad's money.
Take the 4k and say thank you.
#26
I truely wish this had been sorted out 9 years ago as was supposed to happen!!
I was just asking for a fair sum for interest, not the moral view as I have people on all sides telling me to do this, that and the other and I feel like piggy in the middle already.
#27
sickly sweet
Maybe, but my brother and mother are telling me to get a figure together for the interest and that I should ask for it, it's my mother (still with my dad, she just thinks my dad is being a scrooge and she's really putting pressure on me to persue this). My father was actually left out of his father's will, so actually maybe this has something to do with it.


Well it looks like merely from an outsider looking in your mum is trying to cause some rift, may not be the case at all. If she knows he is in the financial do-do, why try and cause a fight between kids and father.

I would proceed with caution, you may or may not get the interest at a price of family relations, so good luck in choosing whatever maybe speak to your bank to help work the figure out?
sassie
then tell your mother to do her own dirty work :thumbsup:


Agreed, nothing like trying to cause a rift:?
#28
well ask all the people leaning on you to screw as much out of your dad for a figure.
banned#29
sickly sweet
I truely wish this had been sorted out 9 years ago as was supposed to happen!!
I was just asking for a fair sum for interest, not the moral view as I have people on all sides telling me to do this, that and the other and I feel like piggy in the middle already.


But if your dad hasn't kept account of where the money has been then any figure you bring up is going to cause an argument.

Take 4k, be thankful and move on.
banned#30
sickly sweet
I truely wish this had been sorted out 9 years ago as was supposed to happen!!
I was just asking for a fair sum for interest, not the moral view as I have people on all sides telling me to do this, that and the other and I feel like piggy in the middle already.


Noting you can do about that now, just accept the £4k for what it is, a gift from a deceased member of the family
#31
sassie
then tell your mother to do her own dirty work :thumbsup:


I asked her to do this and she said she's too scared to - my dad gets either angry or silent when we talk about the will money. I think I prefer angry to silent, he can do it for a week or so.
Maybe I'll just leave it, but I've also got my other grandfather's £1,000 money to deal with which he's refusing to give me or even talk about at the moment, not because he can't afford it as my mum says he can, so no idea why. But he has had a major pay cut so could be something to do with it. Oh I don't know - tip to all parents, put money meant for your children away in their own separate accounts!
#32
If your mum and dad are still together why doesnt she get the money to you?
banned#33
it seems like some crap within the family, and you have to ask yourself is it really worth it, take the 4 grand and put it away somewhere, i wouldnt be playing anyones games here


a mother who is to scared of her husband but happy to push her son to do it, nice mummy
#34
Maybe its just me, but Im kinda thinking that maybe he doesnt have the money anymore, you also mention another £1000 from another relative that you have not received. You say your mum says he has enough money to pay out, but maybe he really doesnt as you previously mentioned he is having financial problems himself?
#35
pinkleponkle
If your mum and dad are still together why doesnt she get the money to you?


She doesn't have access to the accounts, he works and earns all the money and deals with all the finances, he controls all the money. Plus it would end in a massive row and more than likely divorce as it would be seen as an act of defiance.
It's not worth the disputes but I'll get them from one person or the other no matter what I choose to do.
banned#36
sickly sweet
She doesn't have access to the accounts, he works and earns all the money and deals with all the finances, he controls all the money. Plus it would end in a massive row and more than likely divorce as it would be seen as an act of defiance.
It's not worth the disputes but I'll get them from one person or the other no matter what I choose to do.


You really want to share this on here?
#37
JonnyTwoToes
You really want to share this on here?


TBH, it answers people's questions, noone knows who I am, who my parents are and shows that I'm not trying to be a cash-grabbing daughter which I think some people think I am.
Anyway, I'm going to make supper and think about it.
#38
Take it with the interest, try and get as much out of him, then get a knife and stab him in the back.
#39
Lost Symphonies
Take it with the interest, try and get as much out of him, then get a knife and stab him in the back.


Not helpful, nor nice. I am stuck in the middle of this and was just asking what would be fair rate of interest, not to be judged and made to feel like poo.
#40
sickly sweet
Not helpful, nor nice. I am stuck in the middle of this and was just asking what would be fair rate of interest, not to be judged and made to feel like poo.


TBH if I were you I'd take the 4k and not get involved, just tell your mum you won't fight her battles for her and visa versa.

What an awful position for a parent to put her child in, hope it works out whatever you decide.

Post a Comment

You don't need an account to leave a comment. Just enter your email address. We'll keep it private.

...OR log in with your social account

...OR comment using your social account

Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!