Progress Report

Time to update my investment performance. On July 21, 2005 I had £284,511. At the time I assumed an interest rate of 4.75%, but it's more realistic to use the Bank of England base rate less 0.5% (since this is about what competitive UK banks offer).

2005
The average BoE base rate for the remaining 164 days of 2005 was 4.52%. This gives me a profit for the year of £284,511 * .0402 * 164 / 365 = £5,139. After tax of 30% this is £3,597

2006
Average BoE base rate for 2006 was 4.64%. This gives a profit of £288,108 * .0414 = £11,928, or £8,350 after tax.

2007
Average BoE base rate for 2007 was 5.51%, giving a profit of £296,458 * 0.0501 = £14,853. Leaving £10,397 after tax.

So at the end of 2007 my position is: £306,855, or around $612,513 in US dollars.