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Financial Question
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 |
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