HSBC offer

[kennyrogers2]

HSBC offer 10% on a saver account advising that if one invests �250 per month at the end of 1 year the saver will receive �130, how is this calculated?


k

[factor-fiction]

A prety good calculation:
You get 12 months' interest on the first payment of �250. That's �25
You get 11 months' interest on the second month's instalment of �250. That's about �22. .
.
etc
.
You get 1 month's interest on on the last instalment. That's about �2.

Do the sums.

Works out at about �130

If you are expecting �300 that would only be right if you deposited the full annual amount of �3000 on the first day of the year and left it there for 12 months