I want to verify that I am using the PMT function correctly. The situation
is someone who has a sum of money in the bank earning a certain return. They
want to withdraw a fixed amount each month so that at the end of 20 years
the account balance is zero. The figures a

Initial balance: 200,000
Annual return: 6%
Years: 20

I am using this:

=PMT(.06/12, 20*12, -200000)

Have I got this right? Thanks


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Peter Aitken

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