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# how much interest a month would i get on this rate???

6y, 3w agoPosted 6 years, 3 weeks ago
if i had £5100 invested and the interst was as below what would i get in monthly interest?????

rate of 2.08% AER /2.06% tax-free pa 3 variable

not sure how to work this out any one know.
greatly appreciated
6y, 3w agoPosted 6 years, 3 weeks ago
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(5)
#1
think its 106.08 @ 2.08 then 105.06 @ 2.06

5100 x 0.0208 is the sum.....

these are the annual interest rate AER. divide 106 by 12 for monthly

Edited By: lanc_red on Nov 17, 2010 18:32
#2
I roughly worked this out to be £5 a month. That is a rough guess. Someone will post a link to a calculator shortly.
http://www.lloydstsb.com/tools_and_calculators.asp?WT.mc_id=43000000147297784&WT.srch=1

There you go

Edited By: leecroot on Nov 17, 2010 18:52
#3
Usually the first figure is the interest rate if you opt to be paid annually & the second if you opt to be paid monthly as then you would start earning interest on the interest if left in the account taking the 2.06 up to 2.08.
So if you invested 5100 & opted to be paid monthly you would be paid 5100 x 2.06% divided by 12 = £8.75
Hope that's right
#4
cheers guys
banned#5

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