LDFerguson
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Anyone know of a free online calculator that could solve the following problem?
If I want to generate an income of €X per year for the next Y number of years, how much do I have to invest now assuming an interest rate of Z%, so that my original capital will be completely exhausted at the end of Y years?
This is not a joke, by the way - it's relevant to life assurance. I can do it by trial and error on a spreadsheet but if there's a nifty online calculator out there somewhere, that would be good.
If I want to generate an income of €X per year for the next Y number of years, how much do I have to invest now assuming an interest rate of Z%, so that my original capital will be completely exhausted at the end of Y years?
This is not a joke, by the way - it's relevant to life assurance. I can do it by trial and error on a spreadsheet but if there's a nifty online calculator out there somewhere, that would be good.