Planning to save for retirement

Assignment Help Financial Management

Reference no: EM131959996

You are planning to save for retirement over the next 35 years. To do this, you will invest $870 per month in a stock account and $470 per month in a bond account. The return of the stock account is expected to be 10.7 percent, and the bond account will pay 6.7 percent. When you retire, you will combine your money into an account with a 7.7 percent return. How much can you withdraw each month from your account assuming a 30-year withdrawal period? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Withdrawal $ per month

Reference no: EM131959996

Questions Cloud

Which bank would you go to for new loan : First National Bank charges 13.3 percent compounded monthly on its business loans. As a potential borrower, which bank would you go to for a new loan?

Compute its fair market value : A stocks next 2 dividends are as follows: $0.25 and $1.00. The required return on this stock is 16%. Compute its fair market value.

What you think of planned project as managerial accountant : What do you think of the planned project as a managerial accountant? Using the three methods of evaluation in capital budget

Describe the competitive strategies used by the company : Describe the competitive strategies used by the company's main competitors. Which of these strategies are the most effective? How can your company combat.

Planning to save for retirement : You are planning to save for retirement over the next 35 years. How much can you withdraw each month from your account assuming a 30-year withdrawal period?

What is the amount deposited in the bank for the day sales : The actual cash received from the day's cash sales was $27,195, What is the amount deposited in the bank for the day's sales

Describe the impact of workplace bullying : Provide a review of the article. Describe the impact of workplace bullying on both the victims and the organization.

How long will it take for account to be paid off : One of your customers is delinquent on his accounts payable balance. how long will it take for the account to be paid off?

Calculate alexandra maximum depreciation deduction : On February 2, 2017, Alexandra purchases a personal computer for her home. Calculate Alexandra's maximum depreciation deduction for 2017

User Account

All Pages