How do i work interest out?

zonecrew

Hi

Apologies if this isnt the essence of the board but my other half is struggling with an important maths assignment thats due in soon.

She has to produce an assignment whereby she has to plan a holiday and produce a budget for the holiday, this isnt a problem but before she does this she has to produce a plan of how she got the money in the first place and her tutor has told her that she must have obtained the money by her receiving a small amount of cash ten years ago and her investing this money in a savings account and every year she gained compound interest on this amount which (after ten years) enabled us to plan a trip to disneyland paris with the kids.

her tutor claims that there will be internet sites that would give her this information, what she wants is real time information on the exact interest rates etc for the last ten years or a one-stop site which will give her the info she needs.......can anyone help? either pm me or reply back and it will be much appreciated!!

thanks

jimjames

Google is your friend!

http://www.nsandi.com/interest-rates/historic

Do you also have to work out how much you'd need to be given for the holiday? A "small" amount of money over the last few years interest rates would remain a small amount of money.

zonecrew

Thanks for the reply, I will check it out