MonthlyPeriodicWithdrawals

This gem allows you to calculate then number of monthly withdrawals it would take to reduce the principal on an interest-bearing account.

Add this line to your application's Gemfile:

gem 'monthly_periodic_withdrawals'

And then execute:

$ bundle

Or install it yourself as:

$ gem install monthly_periodic_withdrawals

Add require 'monthly_periodic_withdrawals' to you code if your not using rails.

To calculate the number of months to deplete the principal on an interest-bearing account use the following:

rate = 0.008333 - Monthly rate of interest on the principal annual is 10% Monthly withdrawal = 200 Starting Principal = 1000

number_of_month_to_deplete_principal = MonthlyPeriodicWithdrawals.time_to_deplete(0.008333, 200, 1000)

number_of_month_to_deplete_principal = 65

If the withdrawal amount would not deplete the principal at all the following is returned: rate = 0.008333 - Monthly rate of interest on the principal annual is 10% Monthly withdrawal = 200 Starting Principal = 25000

number_of_month_to_deplete_principal = MonthlyPeriodicWithdrawals.time_to_deplete(0.008333, 200, 25000)

number_of_month_to_deplete_principal = "This monthly withdrawal will not deplete the principal"

Bug reports and pull requests are welcome on GitHub at https://github.com/[USERNAME]/monthly_periodic_withdrawals. This project is intended to be a safe, welcoming space for collaboration, and contributors are expected to adhere to the Contributor Covenant code of conduct.

The gem is available as open source under the terms of the MIT License.