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Account assuming a withdraw period

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You are planning to save for retirement over the next 25 years. In order to do this, you will invest $820 per month in a stock account and $420 per month in a bond account. The return of the stock account is expected to be an APR of 10.2 percent, and the bond account will earn an APR of 6.2 percent. When you retire, you will combine your money into an account with an APR with an APR of 7.2 percent. All interest rates are compounded monthly.

How much can you withdraw each month from your account assuming a withdraw period of 20 years?

Reference no: EM132403206

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