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An ordinary annuity pays at the end of each period; an annuity due pays at the start. Future value = PMT × [(1+r)^n − 1] / r, where r is the periodic rate and n is the number of periods. Present value discounts those cash flows back to today. Use this for structured settlements, lottery payouts, and savings plans.
Level monthly withdrawal that fully amortizes a lump sum at a fixed nominal rate (end-of-month payments).
Monthly payout
$1,719.72
240 payments → $412,732.38 total (before fees/taxes).