Planning to save for retirement

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Reference no: EM131221312

You are planning to save for retirement over the next 30 years. To do this, you will invest $750 per month in a stock account and $250 per month in a bond account. The return of the stock account is expected to be 11% per year, and the bond account will earn 6% per year. When you retire, you will combine your money into an account with an annual return of 8%. How much can you withdraw each month from your account assuming a 25-year withdrawal period?

Reference no: EM131221312

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