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How can I calculate how long an amount of money will last if I spend x dollars per month, at the same time as the pot of money is attracting interest at y percent? Is thare a formula?


  • math -

    This is the same as the formula for borrowing money and repaying a monthly amount.
    n=number of months it will last
    y=interest rate, compounded monthly at y/12, (use 0.10 for 10% per annum)
    x=monthly spending
    Unfortunately, to solve for n, you need to solve it by trial and error or Newton's method.
    There exist compound interest calculators, such as:

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