Ethereum coins in existence now and in the future

I heard Ethereum has 75,000,000 coins created at launch in the genesis block and 15,000,000 will be created every year... i.e. fixed inflation at 5%, is that correct?

Also do coins actually get burnt/destroyed when spent on cycles or do the funds remain in the economy and get given to the miners in addition to their new coin rewards?

Please don't ask me to RTFM as I had a look and took me over an hour just to find the 1028201 block hash to even run the thing and still non-the-wiser as to what the heck geth is even doing (everytime I type the text is obliterated with mining information)

I'm really keen to learn and try this out as I love the high level concept but the learning curve is like encountering a 50ft brick wall without knowing if it's worth climbing.