Savings help

myskinylegs

Can any one advise please on savings over the last 15 years
If in 1994 I had put £50 a month into a savings account what approx would I have received today?
I have roughly worked out to a figure based on 3% interest

Year 1 £600 amount accrued
year 5 £3281.04 "
year 10 £7084.67 "
year 15 £11494.12 "

Thankyou in advance

DiggerUK

myskinylegs wrote: »

Can any one advise please on savings over the last 15 years
If in 1994 I had put £50 a month into a savings account what approx would I have received today?
I have roughly worked out to a figure based on 3% interest

Year 1 £600 amount accrued
year 5 £3281.04 "
year 10 £7084.67 "
year 15 £11494.12 "

Thankyou in advance

I've just done your year 1 to 5. You would need to receive 40% pa.
Years 5-10 you would need 17%
You have worked out very roughly it seems. 15 years at 3% pa is less than a grand.

anna42hmr

myskinylegs wrote: »

Can any one advise please on savings over the last 15 years
If in 1994 I had put £50 a month into a savings account what approx would I have received today?
I have roughly worked out to a figure based on 3% interest

Year 1 £600 amount accrued
year 5 £3281.04 "
year 10 £7084.67 "
year 15 £11494.12 "

Thankyou in advance

the regular savings calculator may help http://www.moneysavingexpert.com/savings/best-regular-savings-accounts