How much interest will i earn at 3%?

by **Ondy** on Sat Oct 24, 2009 2:25 pm

Okay i would like to invest £3000 in an ISA thats at 3%, so does this mean if it were to stay at 3% for a year, i would earn £90 interest, in a year. Is that right?

by **rtfm342** on Sat Oct 24, 2009 2:28 pm

by **whirlingmerc** on Sat Oct 24, 2009 2:29 pm

looks like 3% to me

you also have to consider how much you can keep. How much of the gain might be taxed etc

by **Krayor** on Sat Oct 24, 2009 2:29 pm

Quite correct. Simply multiply your number (3000) by the % you are looking for(.03).

3000*.03=90. Which is your answer =P

by **QuestionCrunch** on Sat Oct 24, 2009 2:31 pm

3000/100=30 or 1%
30X3 or 1%*3
=90

by **Maddi547** on Sat Oct 24, 2009 2:34 pm

dont have to be such a little bitch about it...

by **ANF992** on Sat Oct 24, 2009 2:35 pm

Not quite correct as it will be slightly more. Interest is calculated daily so as each day goes by you are earning more money. Interest at 3% is paid on the new daily value. The interest is a daily compound interest. Well done and keep saving.

by **ProInvestor272** on Sat Oct 24, 2009 5:51 pm

what if your money made you 1 - 10% or 10% to 200% per month
with no risk at all,what if you dont need to work and just enjoy life
what if you can watch your wealth growing while you are having fun
visit myfxfunds.com
and hsfxasset.com

How much interest will i earn at 3%?