How much can you withdraw each month

Reference no: EM132041381

Question: You are planning to save for retirement over the next 15 years. To do this, you will invest $1,100 a month in a stock account and $500 a month in a bond account. The return on the stock account is expected to be an EAR of 7 percent, and the bond account will pay an EAR of 4 percent. When you retire, you will combine your money into an account with an EAR of 5 percent. How much can you withdraw each month during retirement assuming a 20-year withdrawal period?

Reference no: EM132041381

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