My nan took out a "50/50 5 year guaranteed equity bond issue 47" with Britannia. She had £6,000 in there. She's asked me to help her work out how much interest she'll gain as I have access to the internet and she doesn't.
On MSE it said that this account worked like this-
"50/50 bond splits an investment in two - with half going into a one year savings bond paying 7%, and half going into a five year guaranteed capital equity bond which gives a potential return of 50% of the growth of the FTSE subject to averaging."
I've worked out that she'd have £210 for the first year, the 7%. But now I'm having trouble trying to work out the FTSE. I've got the historical prices, but I don't know if they'd go daily/weekly/monthly on working out the average. I've also tried looking at the list of numbers, and I haven't got a clue how to work it all out!
Could someone please help? I'll put the FTSE link in the first post.
Many thanks in advance.