How much can you earn in interest per year from a1 million pounds

1) “Assuming just a simple high interest savings account then you would be looking at an interest rate around 6% – 6.5%

So at 6% you would earn 60,000 interest and at 6.5% you would earn 65,000 interest (though of course you would probably have to pay tax on that somewhere)”

Source and further information:

“The factors that will determine how much you will earn on your million pounds are:

- The interest rate

- How long you save it for without withdrawing any money

- Whether you are paid interest daily, monthly or annually”

3) Further information:

“What about a higher interest rate of 6%, compounded monthly?

1 year: 61,678″

Source and further information:

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