Pension from Capital
Determines the regular payout that a capital allows over a given term (full drawdown of capital).
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In retirement the remaining capital keeps working: the possible pension is well above "capital divided by months", because the money not yet withdrawn keeps earning interest.
→ Story & full explanation: What pension can the savings support?
The level loan installment contains interest and repayment – at the start the interest portion dominates, later the repayment. Those who understand this assess financing offers correctly.
→ Story & full explanation: Monthly installment of a car loan
The reverse pension question: from existing capital the payout is calculated that just uses it up over the term. Because the remaining capital keeps earning interest until the very end, the pension is higher than capital divided by months.
Annuity from present value, ending capital = 0.