Respuesta :
The question is incomplete. The complete question is :
You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the account needs to hold to make this possible. Round your answer to the nearest dollar.
Regular withdrawal   $ 2200
Interest rate             2%
Frequency          Monthly
Time                 20 years
Solution :
Given :
Monthly withdrawal = $ 2200
Interest rate = 2%
Frequency = monthly
Time = 20 years
    = 20 x 12 = 240 months
Formula used :
[tex]$w=\frac{[PZ^{r-1}(Z-1)]}{[Z^Y-1]}$[/tex] Â Â Â Â with Z = 1 + r
where, w = monthly withdrawal
P = principal amount
r = monthly interest rate
Y = Number of months
So, w = 2200
   r = 2% = 0.02
   Z = 1 + r
    = 1 + 0.02 = 1.02
Y = 240
Therefore,
[tex]$2200=\frac{P(1.02)^{240-1}(1.02-1)}{(1.02)^{240-1}(1.02-1)}$[/tex]
[tex]$P=\frac{2200(115.888-1)}{113.6164(0.02)}$[/tex]
  = 111,231829
  ≈ 111,232 (rounding off)
Thus, the account balance = $ 111,232
