SOLUTION: HI, It's been decades since I last worked in serious algebra but have hit a mathematical problem that I cannot solve. Your help would be tremendously appreciated. Starting Amo

Question 167256: HI,
It's been decades since I last worked in serious algebra but have hit a mathematical problem that I cannot solve. Your help would be tremendously appreciated.
Starting Amount = 3,000,000 (- variable c)
Ending Amount = 0
Number of Years to withdrawl amounts = 10 (- variable y)
Withdrawl Amounts increase annually by 3% [inflation rate] (- variable f)
Each years remaining amount (- variable r) increases by 3.75% [interest rate] (- variable i) = interest (- variable z)
Each annual withdrawal amount so far is unknown. (- variable x)
Solve for the initial [first year] withdrawal amount (x).
Provide a formula to calculate the first x with theb given values above.
Known Formulas I have figured out that do work with these values:
Note c = 0.00 in year

A sample table with accurate figures doing the same mathematical calculations as needed above but for 3 years instead of 10 is shown below. For this data, all other constants from above remain unchanged.
y____Funds (c)___Withdrawal(x)__Balance (r)____interest(z)
1__3,000,000.00__1,007,263.88__1,992,736.12__74,727.60
2__2,067,463.72__1,037,482.80__1,029,981.93__38,624.32
3__1,068,606.25__1,068,606.25_____0.00)_______(0.00)
4_____(0.00)
As you can see, I have the figures. What I need is the formula so that I can do this in excel.
Again, many thanks for your help if your able.
Rick
Answer by oscargut(2103) (Show Source): You can put this solution on YOUR website!
Hi, it is a nice problem, i solved.
If you want more details please contact me
( solution is too long to put it here)
If you want i can do excel file too

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