Ponty
pfm Member
Yes, you said earlier. You should be able to work out how much will be in the account at the end of 12 months.
You don’t know what you don’t know.
Yes, you said earlier. You should be able to work out how much will be in the account at the end of 12 months.
Though to be fair, how much of what is taught in school 'sticks'?
Geography: Ox-Bow Lakes
Chemistry: H2SO4
French: some nouns are masculine, some feminine
Latin: Bellum, Bellum, Bellum
History: Repeal of the Corn Laws
Maths: Pi R squared
English Language/Literature: My name is Ozymandias, king of kings
Physics: Boyle's Law
Oh, I know the answer and I understand exactly what Bob is saying. You appear keen on point scoring. Either that or you don’t know that you don’t know.You don’t know what you don’t know.
Oh, I know the answer and I understand exactly what Bob is saying. You appear keen on point scoring. Either that or you don’t know that you don’t know.
Good for you. I too understand it, yet you implied I did not because I also happen to understand what Bob was saying. Answering the question shows what Bob is saying but you don't want to acknowledge that.Nothing about point scoring, just right and wrong. It’s binary. I ran an EMEA leasing business so yes, I really do understand time value of money and IR calcs, but believe what you like, I’ve nothing further to say on the topic.
It’s tricky. Will prices dip or will the market stagnate because people won’t live with price drops? The fundamental behind prices is a lack of housing, which keeps prices up. It could all go to hell in a handcart but this has been prophesied many times. When will it happen to a significant extent? That said, we are in a mess with inflation and energy costs.I'm surprised anyone thinks buying a property now would be a good idea...top of the market, interest rates going up, recession imminent...surely it's only going one way? Unless inflation turns into hyperinflation and all those huge mortgages actually turn into 'real' peanuts in just a few years (could be a lot worse, or better depending upon your perspective, than the 70s?)...but that will be pretty tough times if you've still got to pay the mortgage payments throughout...
I'm surprised anyone thinks buying a property now would be a good idea...top of the market, interest rates going up, recession imminent...surely it's only going one way?
I'm surprised anyone thinks buying a property now would be a good idea...top of the market, interest rates going up, recession imminent...surely it's only going one way? Unless inflation turns into hyperinflation and all those huge mortgages actually turn into 'real' peanuts in just a few years (could be a lot worse, or better depending upon your perspective, than the 70s?)...but that will be pretty tough times if you've still got to pay the mortgage payments throughout...
Suddenly all those bods who wanted space for a home office so they could work from home more often will be wanting something smaller and less draughty, and will be going to the office to save on heating and lighting.
Though to be fair, how much of what is taught in school 'sticks'?
Dead right. It's cheaper to heat a spare room than drive a car with fuel at nearly £2 a litre. That's before any repairs. Mine just handed in a bill for £500+, a brake caliper, discs and pads. It's an old car, nothing lasts for ever and 15,000 miles a year takes its toll.Ahh but then they'll have to pay to get to the office. Swings and roundabouts.
He’s arrogant isn’t he?I haven’t described or tried to describe how interest rate calculations work.
It’s a straightforward question. If you can’t work it out that’s fine. There are plenty of online calculators if you don’t understand excel.
Thank god!Nothing about point scoring, just right and wrong. It’s binary. I ran an EMEA leasing business so yes, I really do understand time value of money and IR calcs, but believe what you like, I’ve nothing further to say on the topic.
Though to be fair, how much of what is taught in school 'sticks'?
Geography: Ox-Bow Lakes
Chemistry: H2SO4
French: some nouns are masculine, some feminine
Latin: Bellum, Bellum, Bellum
History: Repeal of the Corn Laws
Maths: Pi R squared
English Language/Literature: My name is Ozymandias, king of kings
Physics: Boyle's Law
Ye gods, Joe. I didn't have anything like as good an education. It WAS Eton you went to, wasn't it?.
Why all this controversy over calculating reg. savers? I'm no mathematician, but I've had so many of these things and have had to work out accrued interest on a 6 monthly audit basis, as all of them (really, many dozens over 25 to 30 years) are annual interest only, yet (supposedly) calculated daily. I simply calculated the accrued daily interest on the amount invested whenever a new payment goes in (which was never a regular interval). E'g. £500 @ x% for the number of days invested, £1000 @ x% for the number of days that sum is invested and so on. If you're clever/lucky when you take out the saver, you can get 13 months' interest, or near, depending on the maturity date.
6k just happens to be the ending balance, but it's not the relevant number either in reality, or to calculate the interest ... or to calculate the yearly IR. The average account balance over the year is a more relevant number.Apart from the last bit, this is what Bob is saying.
Let’s try another approach, @Ponty.
If you save £500 per month for 12 months in the account you mention ..
1. How much will you have in the account at the end of the year?
2. What percentage increase (interest) does that figure represent above £6000, being as over the 12 months you will have paid in £6000?