What would you spend a thousand pound on if i gave it to you?
Answers: I would buy clothes and toilitries and take them to our local homeless shelter.
Hiya!
I'd use it to convince my husband for us to have a 3rd child!
Phoebs
lots and lots of shoes
you know what they say you can never have too many shoes...
but i might put some of it in a high intrest bank account but thats not really spending it is it?
A thousand pounds isnt that much,
But i would use it to pay off my christmas debs,
Thanx for offering speedy lol
Midnight~Angel :)
Oh that is easy, air tickets for my mother and two youngest daughters to come and visit me here.
My mother is quite old now and it would be nice for her to see where I live. My two youngest are in the UK and their lives will be a long running financial battle what with the ridiculously high house prices and quite low salaries and a nice trip to the tropics would cheer them up a lot, especially when they see the prices in our Malls here !
i would use it to personally better myself .and my children . i would do this by buying and selling better items than i have after buying better advertising boards for my van which would then give me a much better living for my family once that was acheived i would be able to help otheres by doing the same as yourself
How is compound interest figure?
I will contribute 15500$ to 401(k) this year and my fund had a 11% growth rate concluding year. IF it keeps up this year, what amount will I hold?If I understand correctly, it will be difficult than just (15500 x .11) + 15500. That doesn't vindication for compound interest.
Answers: It depends on how often you collect dividends. At my wall, they're paid monthly so the apy is a bit higher than if it be quarterly.
So let's use a hypothetical: 15500 x 0.11 = 1705 / 365 = $4.67 per day x # of days within month 1 (31?) = $144.81.
Your new stability is 15644.81 x 0.11 = 1720.93 / 365 = 4.71 per day x 31 = 146.16 New stability = 15790.97
So, as you see, month 2 collected more than month 1 because the starting balance be higher.
The cross-question confuses the net growth within one year for an fund that fluctuates with a disc or similar bank instrument that pays interest within fixed intervals.
V = V0 * (1 + int/k)^(k*n) will compute the value after n years for something that compounds k times per year at a fixed interest.
As you stated it, k=1, n=1, int=0.11. and 15500 is correct if you can count on the fixed interest rate.
If equal growth goes for 5 years, k=1, int=0.11, n=5
v = 15000*(1 + 0.11)^5 = you do it.
For a 2-year disc at the bank, 6% per anum compounded quarterly (every 3mo) k=4, n=2, int=0.06
v= 15000*(1 + 0.06/4)^8
if compouned merely every year
v= 15000* (1 + 0.06)^2 a little smaller quantity
After I max out my 401 (k), can I contribute to a Roth IRA?
Answers: Generally, yes. See www.ira.com for the specific income limits.
Yes, you can as long as your modified adjusted gross income is under $101,000 for 2008. If your income is higher, the amount that you can contribute is reduced or eliminated.
See Publication 17 at www.irs.gov for information on income limits.