Is there an Excel Doctor in the house??
I need a formula in Excel that can calculate the remaining balance on a savings account.
The inputs would be:
* The current balance
* Monthly withdrawal amounts (same date every month)
* Number of months to make the withdrawals
* Earnings on the account during the withdrawal period (as an annual return)
The output would be what is left in the savings account after the withdrawals, but accounts for earnings on the balance during the drawdown period.
There are lots of links on the internet for 'drawdown calculators' that do exactly this - but I'd like to automate this in Excel.