How much will I repay him?

Not sure of posting this here but anyway.....in my student days my brother gave me a loan of £1,000 old Irish pounds in 1998. I want to repay him now. How much should I give him to reflect the current value?

1pd = 1.27e + 5% inflation p.a?

I would calculate how many weeks wages it was for him then and reimburse the equivelent.

He was working in the UK at the time. Have`nt a clue what he was earning then.

Give him €2000 and a nice bottle of champagne.

3k ? if you can afford it.

SidTheDweeb said:

Give him €2000 and a nice bottle of champagne.

Click to expand...

This is what I'd do.

Thanks for all ur replies, 2 grand it is (but no champagne and I will insist that he bring me on out the pizz!! )

I was in college in 99 and thought this interesting to see inflation 1st hand using REAL student currency.

£1000 would have:

Paid 40 weeks rent for me @ £25 / wk.
Bought 167, 6 packs at 6 for a 5er of grade a student beer.
And 500 pints : 2£ a pint.

Now to get the same volumes in todays currency would mean spending in €s:

40 weeks @ 100 = €4000 (£3150) = typical student rent ( maybe more )
167 x 8 = €1336 (£1052) for 6 cans for 8 euro these days
500 x 4.80 = €2400 (£1890)

So the offie has remained most competitive in that term almost no inflation, the pub nearly doubled and rents by 3 ! I think thats right.

I wonder how much super noodles have gone up!?

http://www.irlgov.ie/ecbi-Euro/calc.htm using this convertor.