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Investments : Amount of a Fund that can be Spent Each Year

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If I invested $100,000 now at 12% per yr over 15 yrs what if the most I could spend in equal amounts out of the fund each year? Please also show the formula as to how this was calculated.

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The amount of a fund that can be spent each year.

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Suppose I spend x dollars per year out of the fund.
We consider the procedure as following.
The initial balance is P=$100,000 with annual rate 12%.
After 1 year, the balance is ...

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