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• FIRST POST
• tinker15
• By tinker15 6th Jul 18, 9:29 AM
• 1,328Posts
• 6,423Thanks
tinker15
Hi, I need to calculate what interest I would have received in a savings account on a sum from many years ago. Can anyone recommend a tool to do this please?
Comping from May 2012

Thank you to all that post & contribute, I think you are wonderful, I could not achieve without your help
Page 1
• B_G_B
• By B_G_B 6th Jul 18, 9:51 AM
• 461 Posts
• 459 Thanks
B_G_B
• tinker15
• By tinker15 6th Jul 18, 10:42 AM
• 1,328 Posts
• 6,423 Thanks
tinker15
Thanks I have googled but nothing suitable. I require a tool that can calculate over at least a 10 year period to cover various rates. I haven't found one that can cover one year.
Comping from May 2012

Thank you to all that post & contribute, I think you are wonderful, I could not achieve without your help
• JohnRo
• By JohnRo 6th Jul 18, 11:05 AM
• 2,678 Posts
• 2,506 Thanks
JohnRo
Openoffice calc or similar, it's likely to be the only way you'll get exactly what you want.

Do you have all the various interest rates and dates?
'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
• Paul_DNAP
• 6th Jul 18, 11:43 AM
• 347 Posts
• 409 Thanks
Paul_DNAP
You could get an approximation by doing it on a spreadsheet, start Column A with year, column B the initial investment, column C the interest rate for that year, then column D = investment*(1+rate). Copy that result to the next row for the next year and so on. (I say approximation as this method assumes each rate lasts exactly a full year with no deposit/withdrawl, you could get more accurate by working down to a daily equivalent interest rate and the exact number of days between rate changes.) (Oh, and you'll also need to think if you paid income tax in the interest earned, which you may have done in the pre-PSA years).
Or, you could post up the amount and rates and fingers crossed someone will like the challenge of crunching the numbers for you (if you don't want to reveal the amount then just put £100, any results will be scaleable to the real amount).
(Although I could be wrong, I often am.)
• tinker15
• By tinker15 6th Jul 18, 1:38 PM
• 1,328 Posts
• 6,423 Thanks
tinker15
Openoffice calc or similar, it's likely to be the only way you'll get exactly what you want.

Do you have all the various interest rates and dates?
Originally posted by JohnRo
Thanks, I have found this for interest rates which is a start http://www.swanlowpark.co.uk/savings-interest-annual
Comping from May 2012

Thank you to all that post & contribute, I think you are wonderful, I could not achieve without your help
• tinker15
• By tinker15 6th Jul 18, 1:45 PM
• 1,328 Posts
• 6,423 Thanks
tinker15
You could get an approximation by doing it on a spreadsheet, start Column A with year, column B the initial investment, column C the interest rate for that year, then column D = investment*(1+rate). Copy that result to the next row for the next year and so on. (I say approximation as this method assumes each rate lasts exactly a full year with no deposit/withdrawl, you could get more accurate by working down to a daily equivalent interest rate and the exact number of days between rate changes.) (Oh, and you'll also need to think if you paid income tax in the interest earned, which you may have done in the pre-PSA years).
Or, you could post up the amount and rates and fingers crossed someone will like the challenge of crunching the numbers for you (if you don't want to reveal the amount then just put £100, any results will be scaleable to the real amount).
Originally posted by Paul_DNAP
Thanks, I will have a try with your suggestion. Tax isn't applicable so one less challenge For any Mathematician looking to help it is £100 over 20 years
Comping from May 2012

Thank you to all that post & contribute, I think you are wonderful, I could not achieve without your help
• JohnRo
• By JohnRo 6th Jul 18, 2:05 PM
• 2,678 Posts
• 2,506 Thanks
JohnRo
Thanks, I will have a try with your suggestion. Tax isn't applicable so one less challenge For any Mathematician looking to help it is £100 over 20 years
Originally posted by tinker15
The calculation isn't complicated but does it really have the same interest rate for the whole 20 year period?

If not, you need to collate the various interest rates and durations they were applied.
'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
• Paul_DNAP
• 6th Jul 18, 2:30 PM
• 347 Posts
• 409 Thanks
Paul_DNAP
Thanks, I have found this for interest rates which is a start http://www.swanlowpark.co.uk/savings-interest-annual
Originally posted by tinker15

By my reckoning, for £100 invested at the start of 1997 earning the average interest rate each year you'd end up with £210.94

YEAR Avg Int Balance YrEnd
2017 1.00 210.94
2016 1.23 208.85
2015 1.40 206.31
2014 1.48 203.46
2013 1.77 200.50
2012 2.80 197.01
2011 2.75 191.64
2010 2.80 186.51
2009 2.21 181.43
2008 5.09 177.51
2007 5.55 168.91
2006 4.68 160.03
2005 4.92 152.88
2004 4.56 145.71
2003 3.73 139.35
2002 3.68 134.34
2001 4.64 129.57
2000 5.47 123.83
1999 4.71 117.41
1998 6.33 112.12
1997 5.45 105.45
OPENING 100.00
Last edited by Paul_DNAP; 06-07-2018 at 2:38 PM. Reason: It hates my table.
(Although I could be wrong, I often am.)
• bhjm
• By bhjm 6th Jul 18, 2:31 PM
• 123 Posts
• 38 Thanks
bhjm
i believe you are looking for something like this or similar.

if you have a browser which can translate it - it could be very suitable.

https://www.zinsen-berechnen.de/sparrechner.php
• tinker15
• By tinker15 6th Jul 18, 6:53 PM
• 1,328 Posts
• 6,423 Thanks
tinker15
Thank you all very much for your valuable time spent helping me. It is very much appreciated.
Comping from May 2012

Thank you to all that post & contribute, I think you are wonderful, I could not achieve without your help