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Money into an account with an annual return

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You are planning to save for retirement over the next 25 years. 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 10.2 percent, and the bond account will earn 6.2 percent. When you retire, you will combine your money into an account with an annual return of 7.2 percent. Assume the returns are expressed as APRs.

How much can you withdraw each month from your account assuming a 20-year withdrawal period?

Reference no: EM131941211

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