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Planning to save for retirement

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

Reference no: EM131647709

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