What is the nominal dollar amount of last withdrawal

Reference no: EM131794446

Question: You are planning to save for retirement over the next 30 years. To save for retirement you will invest $1,000 a month in a stock account in real dollars and $525 a month in a bond account in real dollars. The effective annual return of the stock account is expected to be 11 percent, and the bond account will earn 7 percent. When you retire, you will combine your money into an account with a 9 percent effective return. The inflation rate over this period is expected to be 4 percent.

How much can you withdraw each month from your account in real terms assuming a 25-year withdraw period?

Monthy withdrawal $_________

What is the nominal dollar amount of your last withdrawal?

Last withdrawal $_______

Reference no: EM131794446

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