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Martin's Savings Calculator
bombardier
Posts: 70 Forumite
I just wondered if the Savings Calculator that is on the main pages took compound interest into account? For example, if I enter that I have £30 to invest but will make no further monthly payments, ever, are the totals calculated including compound interest or interest on JUST £30?
Mac OS X
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Comments
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By my reckoning, its compounding it on
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Marvellous, thank you! Just out of interest, how do you reckon that? Sorry, I'm a div when it comes to these things!Mac OS X0
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bombardier wrote: »Marvellous, thank you! Just out of interest, how do you reckon that? Sorry, I'm a div when it comes to these things!
I put in £1000 for my starting figure, for 1 year at 10% interest, and it comes up with £1100. I then changed it to 2 years and it comes up with £1210, in other words, your getting interest on your interest.:beer: 0 -
Excellent, thank you!Mac OS X0
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