This does not give the answer for any given year, for example, i want the
answer for year 9 without having to create either a long formula or a table
of answers i believe the 'financial formula' should cover this but i can't
figure out the american terminology such as 'principle' etc

"Dave F" wrote:

=(100000-17000)*1.05
--
A hint to posters: Specific, detailed questions are more likely to be
answered than questions that provide no detail about your problem.


"Emma Hope" wrote:

Please can someone help with this formula.

I have a sum in my bank account say £100,000 and each year i take £17,000
out and get 5% interest on the remaining amount.

Can anyone point me in the direction of a formula which will give me the
resulting figure for any chosen year, i have tried the financial functions
fv, pv, pmt, ppmt etc,. If the answer is any of these, please can you help me
work out exactly what to put as i am having trouble.