investing �1000.00 over 16 years

[jono!!!]

When my son was born in 1999, my grandad gave me �1000.00 to either spend now or invest for him until he is 16, at the time i needed the money so didn't invest it, but would now like to put some money away each month so that when he is 16, he would have the same amount as he would have had if i had invested it when he was born (i hope that makes sense) So i would like to know two things if poss:

1) how much would that 1k be worth in 2015 if i had of invested it (current interest rates)

2)How much would i now need to put away each month to reach the same amount in 2015.

hope all that makes sense, thanks in advance.

[Buenchico]

Assuming an interest rate of 5% p.a (and interest compounded monthly):
1) �2183
2) About �16 per month

Chris

[jono!!!]

thanks buenchico, much appreciated.