Ami would like to withdraw $10,364.10 at the end of each year, for 10 years, from an account paying 2.3% compounded annually. determine the amount needed in the account for tami to do this. round to the nearest cent.

The amount needed in the account is $ 91,651.91 .

Step-by-step explanation:

This can be solved applying the annuity formula for a present value.

The annual withdraw is P=$10,364.10.

The interest rate is r=2.3%, compounded anually.

The period for the withdrawals is n=10 years.

The amount needed in the account is equal to the present value ot the withdrawals:

a = 11 : 4

b = 38

c = 1 for every 6

sweetheart, there isn't a cube below.