at 5% interest yearly, how much money do i need to withdraw yearly to end up with a 0 account balance?

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2007-01-10 14:30:04 · 3 answers · asked by sandraorz 1 in Business & Finance ➔ Personal Finance

i believe if you make one withdrawal for the total amount that is in your account, your balance will be 0. did you mean something else?

2007-01-10 14:37:34 · answer #1 · answered by Duxie 1 · 1⤊ 0⤋

??? depends on the account balance and how many years until you want a 0 balance???

2007-01-10 22:33:53 · answer #2 · answered by QandA 3 · 0⤊ 0⤋

105 % of your original deposit if it is compounded annually, more if compounded monthly . . . you did not spec . . .

2007-01-10 23:00:08 · answer #3 · answered by kate 7 · 0⤊ 0⤋