hi,

I have a base amount of 100,000$ that i want to spend over 15 years and based on a 5% interest and also a yearly withdrawal inflation of 1.5%. (Think of a retirement increase)
To me it looks like a mix of FV and PV but i'm stuck because of the yearly inflation. What i really want to know is what would be my first year withdrawal. Then after i just add 1.5% to it every years.

I'm looking for a single or multiple formulas that would return the first withdrawal based on the following items. For simplicity let's say i do only 1 annual withdrawal on January 1st.


Years (fixed): 15
Interest(fixed): 5% annual
Withdrawal increase : 1.5% annually
Base amount: 100,000

First Withdrawal: Unknown


FV takes only account of 100,000, 5% and 15 years and fixed withdrawals/payments.

Thanks