borrowings from sibling

J

jack

Guest
Greetings,
A friend of mine borrowed 20000 irish punts from her sister approx 18 years ago.My friend (the borrower) hit pretty hard financial times when she borrowed the money but alas her sister now wants the money back.Is it possible to calculate how much would be owing to my friends sister assuming her sister had left that money on deposit for the last 18 years.
I presume compound interest,inflation,euro changeover, and God only knows whatever else would come into this calculation.
Kind regards ,
Jack
 
reply

Jack,

I can't think of an easy answer to your question, however hope the following suggestions may be of some help.

Firstly the easiest option may be to ask the sister how much she expects to receive.

But if you want to make some attempts to calculate what you think would be a reasonable return I would suggest using an investment calculator to see what 20,000 invested over 18 years would give.
www.dinkytown.net/java/In...eturn.html

You can then use the following currency calculator to work out the exchange from pounds to euro's
www.xe.com/ucc/

Another option would be to try and work out the amount of money that would give the equivalent purchasing power of the 20k from 1986.

The closest information I could find that might help with that is, [broken link removed]

I hope the above gives you a starting point.
 
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