Help Wanted From Maths Experts... Please.

Jeza | 12:40 Fri 31st May 2013 | ChatterBank

9 Answers

If you invest £5100 for 3 and a half years and your return is £5821.70. What is the overall interest rate and what is the annual rate. I'm hopeless at this kind of thing. Also was it a good deal. Thankyou.

Jeremy Kyle

Anyone Playing Geogussr?

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sandyRoe

The annual rate is a fraction over 4%.
14.15 % over the 3 and a half years

lcg

i think it's a good deal....but can't be bothered to work out the %'s. x

Prudie

Agree with Sandy and very good deal in current climate IMO

jake-the-peg

So given the UK inflation rate is around 2.5% that's about 1.5% in real terms.

That is your £5821.70 will buy you about 1.5% more than £5100 will buy you today

Jeza

Question Author

Thank you all. I invested this money and got the return today. I'm glad I wasn't ill advised.

-- answer removed --

Jeza

Question Author

No it wasn't annual it was an investment to run for 3 and a half years. Then to be paid out after the term.

jake-the-peg

And depending on your circumstances there may be the small matter of income tax.

Shame you just can't fill a great big tank with petrol - you'd have made over 20% over that period!

Jeza

Question Author

No tax jake. It was an ISA investment.

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