How Much Interest?

[JuniperEccles]

How much interest will an investment of £24,000 for 3 years at 2.26% yield, please?

[ToraToraTora]

how often calculated? how often added?

[Buenchico]

Assuming that it's compound interest (i.e. interest is earned on the interest from previous years), your £24k would become £25,664.25 after 3 years. (i.e. that's £1,664.25 earned)

[Buenchico]

A good point, TTT.

In the absence of any other info, I assumed an annualised yield.

[JuniperEccles]

Sorry, it's added annually.
Thanks, both.

[ToraToraTora]

and calculated daily or annually? if daily I make it £27,802.94.

[Thunderchild]

Interest is usually quoted annually isn't it?

[fiction-factory]

How exact do you need the figure to be? 1% pa is £240 in year 1 or £20 a month so 2.26% will be roughly £45 a month or £540pa. Over three years that would be £1620. Then add a little bit more - around £40- for interest in years 2 and 3 on your past interest.
If you need an exact figure there are sites that work it out for you if you have no pen/paper or calculator
eg https://www.thecalculatorsite.com/finance/calculators/savings-calculators.php