Sue Denim Posted October 8, 2023 Report Share Posted October 8, 2023 On 10/7/2023 at 1:18 PM, Cookie Monster said: I estimated and since had it corroborated by someone that is more financially knowledgeable than myself, that the interest lost by SMISA over the 4 years to be approx *£2000, a small amount for an investment that will be recouped many times over by our club. 🫰 *Remember, interest rates can go up or down. £80k over 4 years at 5% Pa equates to circa £8k interest Quote Link to comment Share on other sites More sharing options...
Slarti Posted October 8, 2023 Report Share Posted October 8, 2023 £80k over 4 years at 5% Pa equates to circa £8k interest It would be about £17,500 over 5 years if you had £80k in an account paying 5% p.a., the exact amount depending on how often the interest was paid. I suspect the SMiSA account probably doesn't pay as much as 5%. There will also be accounts available that SMiSA are not able to take advantage of as they are not an individual. Quote Link to comment Share on other sites More sharing options...
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