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Calculate inflation
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20122013 said:3% is (almost) 1/33rd, which is where the 33 comes from.2% is 1/50th, so you'd multiply by 50.£2k x 50 = £100k.4% is 1/25th, multiply by 25.5% is 1/20th, multiply by 20.And so on.
N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.Not exactly back from my break, but dipping in and out of the forum.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!1 -
Cobbler_tone said:20122013 said:@ QrizBA sceanrio:If I want to draw 2% from the £100K pot.2% of £100K = £2000 per year£2000 x 22 (??) = 44000?I am still not sure where the '33' come from ? as it is just repat the digit? ie:2% will turn to 22?4% to 44?
Where is Carol Vorderman when you need her?!
TBF the 'x 33.3333' probably didn't help to explain it to you.
The easiest way is to work out your return from a lump sum and then that is what you can roughly take to stay on an even keel.
£100k x 1% = £1,000
£100k x 2% = £2,000
£100k x 3% = £3,000 etc
I'm sure someone will be along in a moment to complicate it further.0
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