You are planning to save for retirement over the next 30 years. To do this, you will invest $860 per month in a stock ac

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You Are Planning To Save For Retirement Over The Next 30 Years To Do This You Will Invest 860 Per Month In A Stock Ac 1 (26.97 KiB) Viewed 15 times

You are planning to save for retirement over the next 30 years. To do this, you will invest $860 per month in a stock account and $460 per month in a bond account. The return of the stock account is expected to be 10.6 percent, and the bond account will pay 6.6 percent. When you retire, you will combine your money into an account with a 7.6 percent return. How much can you withdraw each month from your account assuming a 25-year withdrawal period? (Do not round intermediate calculations and round your answer to 2 decimal place e.g., 32.16.) Withdrawal 2192308.47 per month