I found online that the formula is below:

A = PMT ((1+r/n)nt – 1) / (r/n))

Breaking them down:

A: This is the future value of an investment. In simple terms, this is the value of a current asset based on an estimated growth rate.

PMT: PMT is a payment per period in terms of finance.

r: This signifies an annual rate of return.

n: Compound numbers in a given period are denoted by "n."

t: This is the number of periods in which an amount is invested.

But I can't seem to use this formula in excel.

If I use below amount in online calculator, and the same amount in excel formula, I get different results:

Total investment = Rs 1000000

Withdrawal per month = Rs 10000

Tenure (years) = 10

Expected return = 8%

Final Amount = Rs 3,57,682

Now if in excel I do this:

PMT = 1000000

r = 8

n = 1 (since 1 means yearly, 4 means quarterly, and 12 means monthly)

t = 10

(not sure where to enter withdrawal per month amount).

Then I am getting A = 1,01,25,000 (crore :O)

Any help is appreciated. Online calculator: SWP Calculator: Systematic Withdrawal Plan Calculator