Answer:
The amount needed such that when it comes time for retirement is $396721.78.
Step-by-step explanation:
Given : An individual can make monthly withdraws in the amount of $2,154 for 30 years from an account paying 5.1% compounded monthly.
To find : The amount needed such that when it comes time for retirement?
Solution :
Using the formula of monthly payment,
Monthly payment, 
Discount factor D=\frac{1-(1+i)^{-n}}{i}
Where,
Amount = ?
Monthly payment M=$2154
Rate r= 5.1%=0.051

Time = 30 years

Substitute all the values,




Monthly payment, 


Nearest cent,

Therefore, the amount needed such that when it comes time for retirement is $396721.78.