Can you help calculate interest rate
?
My daughter is 13 on christmas eve. if she had £1 put in a bank account for every week since she was born, how much would she now have, taking into account the varying rates of interest over the years? how do i find out what the interest rates (for savings) would have been in 1993?
Answer
I am not sure what the savings rate would be, but you could use the bank of england base rate and take a percent off, which may reflect the savings rate:this link should be for the interest rateshttp://213.225.136.206/mfsd/iadb/repo.asp?travel=nixirx
