# Annuity Schedule

## What is an Annuity?

An annnuity is an investment that returns a fixed sum of money paid to someone on a regularly scheduled basis. Annuities usually pay monthly and are typically paid for the rest of the owner's life. The periodic payment received will not change but the total amount received will vary, even for the same annuity investment because the time to death will vary between owners.

## What is an Annuity Calculator?

The Annuity Schedule Calculator will calculate how long your money will last assuming a periodic withdrawal. This is a very important calculator for anyone wishing to do financial planning and what-if analysis. It is also a great tool for auditing accounts such as money market accounts. You'll be able to plan your money management better when you use this calculator.

This calculator will produce a detailed cash flow using regular or irregular length periods. Additionally, you may randomly change the money withdrawn (or deposited) over the term of the pay out or you may systematically increase (or decrease) the amount using an inflation factor.

In addition to using the Annuity Schedule to find out how long a particular sum will last assuming a given withdrawal schedule, the Annuity Schedule can be used for goal planning.

That is, you can start with a sequence of deposits followed by a series of withdrawals. If you want to save \$750 a month for 120 months and then withdraw \$1,000 a month. The calculator will show you when the withdrawal will result in a 0 balance.

Annuities can be calculated using one of two (Interest) Payment Methods:

1. 'Annuity Due' (Payment Method equals Arrears).is when the interest calculation is made in advance of the withdrawal, thus increasing the amount of interest earned (i.e. the withdrawal is made at the end of the period).
2. 'Annuity in Advance' is when the withdrawal is at the beginning of the period. Interest is not earned on the amount withdrawn for the period. If you want to know what periodic and compounding frequencies are supported, please see the list of common features for all calculators.

Features in common for all calculators.

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