How much interest does 14000000 earn?

Answer 1

The amount of money you have a year on from now is A x 1.BB^C, where A is the current amount of money, BB is the double-digitted percentage of interest you gain, and C is the number of years into the future. So if you have £14,000,000 in a savings account at a modest rate of 5% interest per annum, then in one year's time, you will have £14,000,000 x 1.05^1, which is £14,700,000. For two years, this would become £14,000,000 x 1.05^2, which is £15,435,000 For three years, this would become £14,000,000 x 1.05^3, which is £16,206,750 And so forth.