Building Society

Kathyan | 10:17 Wed 12th Oct 2005 | Business & Finance

2 Answers

If I had put �600 into a building society in 1994, how much would it be worth (approx) today?

Rented Accomodation - Letting agents conning me.

AC Dowdes

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Loosehead

well the quickest way is to assume an arbitrary interest rate so say 4% for example:

600 x (1.04**11) = 923.67

8% : 600 x (1.08**11) = 1398.98

kempie

Bear in mind that because of inflation your �600 from 1994 is equivalent to around �780 today i.e. (on average) to buy an object then for �600 would now cost �780.

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