You plan on supplementing your income. You would like to withdraw a monthly salary of $1,205.78 from an account paying 5.5% interest, compounded monthly. Determine the amount needed in the account such that you can withdraw the needed amount at the end of each month for 5 years. Round to the nearest cent.
a. $83,055.12
b. $63,415.33
c. $72,346.00
d. $63,126.00
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