Final payment, total cash flow and total interest
The calculation starts with $317,500 in the income 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 2 full regular withdrawals of $128,217.22, followed by one adjusted final withdrawal. The final withdrawal must exhaust the balance
| Payment number | Balance before | Interest | Withdrawal | Balance after |
|---|---|---|---|---|
| 2 | $217,857.78 | $19,607.20 | $128,217.22 | $109,247.76 |
| 3 | $109,247.76 | ? | ? | $0 |