Investing $30K and earning 3% per year but need to withdraw $750 per month for living expenses.  What is the formula I would need to calculate remaining balance each month?
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I think we need to know how that 3% per year happens.  It's compound interest, but is it being compounded at the end of each year, or compounded monthly, or compounded continuously?  This will affect the answer.
by Level 13 User (103k points)

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