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Help with a formula
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. |