Tina would like to withdraw an annual salary of $35,756 from an account paying 2.2% compounded annually for 35 years once she retires. given this information, determine the amount needed in her account in order for her to reach her goal. round to the nearest cent. a.$801,263.20b.$866,442.02c.$885,50 3.75d.$1,213,299.,90

This question is based on annuities where we are required to find the present value of annuity that will be sufficient for Tina to make annual withdrawals of $35756 from an account that pays 2.2% annually compounded interest.

We know that formula for present value of ordinary annuity is given as:

Where, we have C=35756, i=0.022, n=35

Upon substituting all these values in the formula, we get:

Therefore, option(b) is the correct answer.

50 min

step-by-step explanation:

they will be decreasing both their times in half

60 / 2 = 30

40/2 = 20

30 + 20 = 50