Find the amount necessary to fund the given withdrawals.
Monthly withdrawals of $\mathrm{\$}600$ for 7 years; interest rate is $6.9\mathrm{\%}$ compounded monthly.
The amount necessary to fund the given withdrawals is $\mathrm{\$}◻$. (Round to the nearest cent as needed.)

Step 1 ：We are given that the monthly withdrawals are $600, the interest rate is 6.9% compounded monthly, and the time period is 7 years. We can use the formula for the present value of an ordinary annuity to find the amount necessary to fund the withdrawals. The formula is: $PV=PMT\ast [(1-(1+r/n{)}^{-nt})/(r/n)]$ where: PV is the present value (the amount necessary to fund the withdrawals), PMT is the monthly withdrawal amount, r is the annual interest rate (in decimal form), n is the number of times the interest is compounded per year, t is the time in years.

Step 2 ：Substitute the given values into the formula: PMT = 600, r = 0.069, n = 12, t = 7.

Step 3 ：Calculate the present value: $PV=600\ast [(1-(1+0.069/12{)}^{-12\ast 7})/(0.069/12)]$

Step 4 ：The present value came out to be negative, which is not possible in this context. I must have made a mistake in the calculation. Let's try again.

Step 5 ：Substitute the given values into the formula again: PMT = 600, r = 0.069, n = 12, t = 7.

Step 6 ：Calculate the present value again: $PV=600\ast [(1-(1+0.069/12{)}^{-12\ast 7})/(0.069/12)]$

Step 7 ：Final Answer: The amount necessary to fund the given withdrawals is $\boxed{{\displaystyle \mathrm{\$}39883.43}}$.