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Can anyone calculate this return?
fbrj
Posts: 376 Forumite
This is a compound interest question
I've just had a redemption (at maturity) figure from Phoenix (a "zombie" fund...previously RSA, when I took it out!) and was wondering what the approximate annual return has been.
The approximate nos are:
30 years of contributions
£420pa
£34750 payout at maturity
Many thanks to those who respond and know which buttons to press on their calculator
I've just had a redemption (at maturity) figure from Phoenix (a "zombie" fund...previously RSA, when I took it out!) and was wondering what the approximate annual return has been.
The approximate nos are:
30 years of contributions
£420pa
£34750 payout at maturity
Many thanks to those who respond and know which buttons to press on their calculator
0
Comments
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fbrj wrote:This is a compound interest question
I've just had a redemption (at maturity) figure from Phoenix (a "zombie" fund...previously RSA, when I took it out!) and was wondering what the approximate annual return has been.
The approximate nos are:
30 years of contributions
£420pa
£34750 payout at maturity
Many thanks to those who respond and know which buttons to press on their calculator
5.93%pa based on annual contributions.
Excel: =IRR(420,420,420, ...............,420,-34750)
(with 30 lots of 420 in the brackets)
Similarly 6.07%pa for a £35 per month premium.0
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