I Have £90000 To Invest. What Would Be My Monthly Income From Interest?


4 Answers

Christine NZ Profile
Christine NZ answered
Depends on where you're investing it and what interest rate, how long invested for and how the interest is calculated.

Mathematically :
Amount invested (90,000) multiply by interest rate and divide by 1200 to get gross monthly interest.  This is an indication only, as most investments have interest calculated on a daily basis, and each month has a different number of days.  (e.g. Feb=28, August=31 days)
e.g. 90,000 x 3.5 (guesstimate per annum interest rate)  divide by 1200 = 262.50 average monthly gross before tax

Alternatively and more precisely - amount invested (90,000) multiply by interest rate, divide by 36500 and multiply by number of days in that month.
E.g. 90,000 x  3.5 (guesstimate per annum interest rate)  divide by 36500 and multiply for 28 days (Feb) = 241.64 gross  (Before income tax)
Robert Lamp Profile
Robert Lamp answered

Is that tax free or do you pay tax on interest.

Karl Sagan Profile
Karl Sagan answered

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