Interest on £10 from 1976

[sunflower68]

My dad just found a Town and Country building soc account book; it says there is £10 balance and that was in 1976!! What does anyone reckon it might be worth today? He says if I can get it I can have it. I am not holding out great shakes for a trip to Barbados but it is interesting...

[factor-fiction]

The interest rate on an account like this is unlikely to have been kept ata competitive rate - accounts like this tend to have rates reduced to something like 0.1%.
So even if the rate was maybe 5% at one time I dount it's now worth much more than £20.

[factor-fiction]

However if the interest rate was linked to the RPI the value would be £61.70
http://www.thisismone...ation-calculator.html

[Jonathan-Joe]

Rates will have varied over the years, but if constant would give the following:
£ 10 accruing interest for 35 years
@ 1% = £ 14
@ 2% = £ 20
@ 3% = £ 28
@ 4% = £ 39
@ 5% = £ 55

see here http://www.oup.com/us...ds/interestTables.pdf

So not Barbadosbut perhaps a good evening out!

[sunflower68]

Aha.....I shall put my credit card away then and cancel that trip.....thanks though!!

[SeaJayPea]

Incidentally, the Town and Country was taken over by The Woolwich in 1992, so you'd need to check with them.

Good luck.