Yes its correct @ 1432.86 per month
"Peter Aitken" wrote in message
...
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


--
Peter Aitken

Remove the crap from my email address before using.