an interest question

[kate1976]

How much interest would be earnt in a week from �100,000?

I unfortunately don't have this money but for some reason me and my friend were talking about it today and wondering if you could live off the interest!

[Ethel]

�96.15 per week, assuming interest at 5%.

�76.80 per week after basic rate (20%) income tax.

[kate1976]

Thanks Ethel!

[Bordeaux]

Ethel which bank give such rates ?

[janeo]

ING Direct pays 4.75%

[stuart100]

Halifax pay 5% on �100,000 in their one-year Guaranteed Reserve account, although you can't touch the money until the year is up