Question: Can someone help me with getting the question below using excel? I have tried a few examples and I am not able to get the

Can someone help me with getting the question below using excel? I have tried a few examples and I am not able to get the correct answer.

First you invest $100,000 at 4.8% interest for n = 3 years. Then one year later (at t = n + 1) you start annual withdrawals for 8 years until it is exhausted. How much can you withdraw per year? Hint: draw a timeline diagram.

Correct Answer:

Correct 17,665.13 0.1

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