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If u have £100000 in bank how much interest u get per month?

Found 28th Apr 2010
If u have £100000 in bank how much interest u get per month?

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depends on the banks rate, if you agree to not have use of it, you get a higher rate, if you want access you get a lower rate

Depends entirely on the interest rate.

Original Poster

lets say if the interest rate is 5%

raa;8480327

lets say if the interest rate is 5%




This is very simplified but i think this....

5 / 100 x 100,000 / 12 = £416

dcx_badass;8480385

Nah that's wrong, it's much more complicated, cba working it out though.



You sure? I thought the interest rate was per year, so the above sum would be right.

Suppose it's cumulative so you would have a few pence more each month?

yep, and dont forget you may have to pay tax on it too, so it would be more like £330

if it is 5% it's £416.67 per month. BUT, unless it's an ISA (tax free), you have to pay 20% tax on that if you are a basic taxpayer, so that's £333.33 per month.

assuming it's 100k in the account every month, of course.

In before twaddle from JFK

well thought of dcx

£5,116.19 compound interest in the first 12 months, @ 5%

initial amount * rate/12 * (1+ rate/12)^(month - 1) to find how much you get each month

1 £416.67
2 £418.40
3 £420.15
4 £421.90
5 £423.65
6 £425.42
7 £427.19
8 £428.97
9 £430.76
10 £432.55
11 £434.36
12 £436.17

Invest it in shares, RBS IMO.

Banned

is this thread a wind up?

thanx this is what id ave left after i see my house ,was thinking of putting in2 ahigh savings for ayear before buying

Depends on many factors e.g the rate of interest, locked in or access..... Here are some examples over a period of 12 months:-

£1,000,000.00 (Present Value)

4% 5% 6%
Basic Compound Basic Compound Basic Compound
£3,333.33 £3,395.13 £4,166.67 £4,263.49 £5,000.00 £5,139.82 PER MONTH

£40,000.00 £40,741.54 £50,000.00 £51,161.90 £60,000.00 £61,677.81 PER ANNUM

jlucke961

thanx this is what id ave left after i see my house ,was thinking of … thanx this is what id ave left after i see my house ,was thinking of putting in2 ahigh savings for ayear before buying



Well, bad news, you ain't going to get 5% interest.

Inactive

Well, bad news, you ain't going to get 5% interest.



This thread is two years old.

Wotwot123

Invest it in shares, RBS IMO.



Lol

489.90 - 243.90 a nice 246pps drop!
Edited by: "bazzaric" 18th Jun 2012

bikerjodie

depends on the banks rate, if you agree to not have use of it, you get a … depends on the banks rate, if you agree to not have use of it, you get a higher rate, if you want access you get a lower rate

Well Sherlock give us the answers to your 2 variables!
Edited by: "hasskano" 9th Jul 2013

hasskano

Well Sherlock give us the answers to your 2 variables!


Replying to someone that made a comment over 3 years ago, well done.
http://stream1.gifsoup.com/view1/1580971/ross-clapping-o.gif
Edited by: "Retro89" 9th Jul 2013

hasskano

Well Sherlock give us the answers to your 2 variables!



And joining the forum to reply to a three year old thread with a sarcastic comment is, well, strange.

JayBird

yep, and dont forget you may have to pay tax on it too, so it would be … yep, and dont forget you may have to pay tax on it too, so it would be more like £330



Tax is only payable if you are earning above the personal allowance threshold.

I went for a walk in the park yesterday.

deeky

I went for a walk in the park yesterday.


unaided?

deeky

I went for a walk in the park yesterday.



I hope you used protection..........................................sun cream that is, and took on plenty fluids. We all know incontinence kicks in in later life and wouldn't want you collapsing from dehydration

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