How much money can you withdraw each month

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Reference no: EM132041475

Question: You are planning to save for retirement over the next 25 years. To do this, you will invest $700 per month in a stock account and $300 per month in a bond account. The return of the stock account is expected to be 9 percent, and the bond account will pay 5 percent. When you retire, you will combine your money into an account with a 6 percent return. How much can you withdraw each month from your account assuming a 20-year withdrawal period?

Reference no: EM132041475

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