Try to not let it confuse you. Use the calculator I have just given you and it will show your total investment. Then deduct your initial investment which will leave you with your interest you have earnt in those months. Then divide that figure by how many months you have been saving and this will give you all interest an average monthly rate.

Try to not let it confuse you. Use the calculator I have just given you and it will show your total investment. Then deduct your initial investment which will leave you with your interest you have earnt in those months. Then divide that figure by how many months you have been saving and this will give you all interest an average monthly rate.

But that won't allow for the interest you earn onthe interest due to compounding

But that won't allow for the interest you earn onthe interest due to compounding

yes it does, cause you can put in monthly deposits

doh sorry, yes i see what you mean, not really bothered about the monthly interest, was just trying to work out end of year interest but how to do it by deposting monthly

But that won't allow for the interest you earn onthe interest due to compounding

I was trying to work out an average monthly interest. Not interest from the interest. I tried to explain it in such a way that it was clear in my head what I was trying to convey!! Obviously didnt work!

yes it does help, i think why it confused me was the interest they have just had for the last year was obviouslt higher interest than that account is showing as now paying

yes it does help, i think why it confused me was the interest they have just had for the last year was obviouslt higher interest than that account is showing as now paying

their account are showing as paying 0-75% yet halifax is paying out at 6%, now checked their interest for last year and it certainly aint 0-75, grrrr maybe best to go for a bath - lol

is there a saving account that offers such a rate? I opened an account with alliance and leicester last September when it was 6.55%, it has now dropped to 2.5% with all the recent bank rate reductions, this still seems to be about the average going rate for a savings account now.

is there a saving account that offers such a rate? I opened an account with alliance and leicester last September when it was 6.55%, it has now dropped to 2.5% with all the recent bank rate reductions, this still seems to be about the average going rate for a savings account now.

the smart to save says its intersts is 0.75% :w00t:

## All Comments

(26) Jump to unreadPost a comment£60 / 365 x 30 days = £4.93 (using 30 days average)

no, just monthly, gawd im cafuddled :oops:

yes thats what i thought, then each month as the figure goes up keep using 0.487% yeah :oops:

Try to not let it confuse you. Use the calculator I have just given you and it will show your total investment. Then deduct your initial investment which will leave you with your interest you have earnt in those months. Then divide that figure by how many months you have been saving and this will give you all interest an average monthly rate.

Yeah

So if start with 100 at end of month would have 100.49 etc etc

But that won't allow for the interest you earn onthe interest due to compounding

yes it does, cause you can put in monthly deposits

doh sorry, yes i see what you mean, not really bothered about the monthly interest, was just trying to work out end of year interest but how to do it by deposting monthly

I was trying to work out an average monthly interest. Not interest from the interest. I tried to explain it in such a way that it was clear in my head what I was trying to convey!! Obviously didnt work!

you taking me out for dinner sassie?

i will have to talk to the baggage, its their money - lol

:lol:

Month Start Of Month End of Month

1 £50.00 £50.24

2 £100.24 £100.73

3 £150.73 £151.47

4 £201.47 £202.45

5 £252.45 £253.67

6 £303.67 £305.15

7 £355.15 £356.88

8 £406.88 £408.86

9 £458.86 £461.10

10 £511.10 £513.58

11 £563.58 £566.33

12 £616.33 £619.33

eg if you invest 100 a month youd end up with 1200 capital + 39.16569 in interest

Calculator results are off FYI...

the smart to save says its intersts is 0.75% :w00t:

http://www.nationwide.co.uk/savings/under_18s/under-18s.htm

http://www.nationwide.co.uk/savings/under_18s/under-18s.htm

I said I'm with alliance and leiceter, not nationwide... Also at my age I don't quite qualify for an under 18's account lol.