Question details

asked in:
697
beeper_spryte
beeper_spryte (Rank: Mileva Einstein^3)

is there an easy way to work out interest on a sum of money from days gone by?

based on inflation.

supporters so far (last 10):

[Close window]
0

helpful

credits: 50
Asked in money, inflation, interest asked on: 01/30/2008 03:42pm
closed on: 02/01/2008 10:29pm

1 Answer

12992
Aiming4777

Aiming4777

Rank: Albert Einstein2 (26,811) | money (77), interest (5), inflation (5)

7 hours after the question was opened (01/30/2008 10:00pm)

1

It depends on what you mean by 'days gone by'. If you look at most bank's Websites, they regard historic information as being back to 2006! This report from the National Statistics Office http://www.statistics.gov.uk/articles/economic_trends/ET604CPI1750.pdf copy presents a composite price index covering the period since 1750 which can be used for analyses of consumer price inflation, or the purchasing power of the pound, over long periods of time. This page explains how these calculations can be made http://www.statistics.gov.uk/cci/nugget.asp?ID=22 copy

Question owner's rating:

helpful

Rated as good answer by:

supporters so far (last 10):

[Close window]
0

Rate as good answer

Number of comments:

0

Add your opinion

This question has already been closed. You can write a different opinion to an answer or a comment to this thread.

  • Comments