Hi Steve,

=PMT(5%,15,500000,-250000)

Will give you a yearly amount of

36,585.57

--
Kind regards,

Niek Otten
Microsoft MVP - Excel

"Steve" wrote in message ...
|I am looking for the right formula to use for the following
| scenario. If I had $500,000 in an account at 5% interest per year
| over a 15 year period and wanted the ending balance to be $250,000,
| how much can I draw out per month and meet the criteria of still
| having $250,000 at the end. I used PPMT but the results don't look
| correct to me.
|
| Thanks, Steve