Final payment, total cash flow and total interest
The calculation starts with $58,000 in the retirement annuity account
The nominal annual interest rate is 9%, compounded annually. The rate for one year is 9%
Interest is posted to the nearest cent at the end of each year. The withdrawal is made after that interest is posted
There are 4 full regular withdrawals of $14,518.97, followed by one adjusted final withdrawal. The final withdrawal must exhaust the balance
| Payment number | Balance before | Interest | Withdrawal | Balance after |
|---|---|---|---|---|
| 4 | $27,517.04 | $2,476.53 | $14,518.97 | $15,474.60 |
| 5 | $15,474.60 | ? | ? | $0 |