Excel formula

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What formula can I use to calculate the balance of a 401k account when taking monthly withdrawals.  The interest rate is constant.

3 Replies

@nstone02gmailcom 

 

PMT function

PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate.

You can find more information about the possibilities of the formula in the link above.

 

Hope I could help you with these information / links.

 

NikolinoDE

I know I don't know anything (Socrates)

 

 

 

@NikolinoDE 

 

Thanks for your quick response.  I didn't explain enough.  I will withdraw equal periodic amounts each month from my 401k.  In the mean time the 401k pays 3%.  When will the current value = 0?

@nstone02gmailcom 

Please have a look at the inserted file, maybe this will help you.

All statements without guarantee :).

 

Hope I was able to help you with this info.

 

NikolinoDE

I know I don't know anything (Socrates)