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How much should I pay back?
Hi
My sister gave me a loan of £5000 back in 2002 to help pay for our house purchase. She still hasn't asked for this money back but I would like to start budgeting to give her this back with the appropriate amount of interest she would have earned if she had put this in a high interest savings account. Just one problem I've no idea how to work out how much this is! :rolleyes:
Can anyone tell me how to work this out or point me to some sort of online calculator? Better still if you could tell me the amount....:T
My sister gave me a loan of £5000 back in 2002 to help pay for our house purchase. She still hasn't asked for this money back but I would like to start budgeting to give her this back with the appropriate amount of interest she would have earned if she had put this in a high interest savings account. Just one problem I've no idea how to work out how much this is! :rolleyes:
Can anyone tell me how to work this out or point me to some sort of online calculator? Better still if you could tell me the amount....:T
0
Comments
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Well if you gave her interest at 4% over a period of 7 years that would be around £6,600 and if interest were at 6% that would make around £7,500. That will give you an idea.0
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Thanks, I was sure it wasn't that simple so didnt believe myself!:p0
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