**Introduction:** The Annuity Monthly Income Calculator helps you project your monthly income from an annuity. Whether you’re considering retirement options or planning your financial future, this calculator provides valuable insights.

**Formula:** The formula used in this calculator is based on the annuity payment formula: Monthly Income = P * r / 12 * ((1 + r / 12)^n) / ((1 + r / 12)^n – 1).

**How to Use:**

- Enter the annuity amount in dollars.
- Input the annual interest rate as a percentage.
- Provide the number of payments in months.
- Click the “Calculate” button.
- View the calculated monthly income displayed.

**Example:** For an annuity amount of $200,000, an annual interest rate of 6%, and 120 monthly payments, clicking “Calculate” will show a monthly income of approximately $1,199.10.

**FAQs:**

**Q: What is an annuity?**A: An annuity is a financial product that provides a series of payments made at regular intervals.**Q: How does the interest rate impact monthly income?**A: A higher interest rate generally leads to higher monthly income, and vice versa.**Q: Can I use this calculator for variable annuities?**A: This calculator is designed for fixed annuities. Different annuity types may require specific calculators.

**Conclusion:** Utilize our Annuity Monthly Income Calculator to make informed decisions about your financial future. Plan ahead and gain insights into the expected monthly income from your annuity.