Home Page













Personal Finance

Pay Day Loans

There has been a lot of Media coverage of these Loan Companies,including by the BBC Watchdog programme.  The figure that had greatest impact on me was; the cost of borrowing £1.00 for 1 Day was £6.00+. This is extortion - DON'T DO IT!

Savings and Investments

Users of this site can contribute to this page. Ultimately I anticipate that banks and financial institutions may contribute or Advertise

NSandI Index linked Savings Certificates - Still not available @ 12 March 2014

ISA Allowances from 6 April 2013

  • The annual ISA investment allowance will be raised to £11,520. 
  • Up to £5,760 of that allowance can be saved in a cash ISA. 
  • The remainder of the £11,520 can be invested in a stocks and shares ISA with either the same or a different provider.
  • The Junior ISA investment allowance will be raised to £3,720

Debt Management

Record your personal success and advice in this area.

Compound Interest Calculation

Today, calculators will do the computational work for you, however, here's a breakdown of how to calculate compound interest:

Compound interest is interest that is paid on both the principal and also on any interest from past years. Itís often used when someone reinvests any interest they gained back into the original investment. For example, if I got 15% interest on my £1000 investment, the first year and I reinvested the money back into the original investment, then in the second year, I would get 15% interest on £1000 and the £150 I reinvested. Over time, compound interest will make much more money than simple interest. The formula used to calculate compound interest is:

M = P( 1 + i )n

M is the final amount including the principal.

P is the principal amount.

i is the rate of interest per year.

n is the number of years invested.

Applying the Formula

Let's say that I have £1000.00 to invest for 3 years at rate of 5% compound interest.

M = 1000 (1 + 0.05)3 = £1157.62.

You can see that my £1000.00 is worth £1157.62.

Are you ready to try a few on your own? The following worksheet contains 10 questions on compound interest. Once you've tried these, click here for the solutions.






Home  Sales Page  Nostalgia   Fund News   Obituaries   Local Groups   Insurance Issues   
Medical Issues   Sport and Leisure   Personal Finance  BT Company Page



Contact: mailto:wm.rees@icloud.com   with questions, information or comments about this web site.
Copyright © 1999. William F Rees All Rights Reserved. Copyright applies to the actual and concept of a BT Pensioners Website in particular, and any other Pensioner Reconnect website.
Copyright of Photographs, Documents and logos used on this site is acknowledged and remains with copyright holders.  Last modified:  .June 08, 2018