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.© BrainMass Inc. brainmass.com March 4, 2021, 6:20 pm ad1c9bdddf
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 ...
The amount of a fund that can be spent each year.