You are planning to save for retirement over the next 30

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You are planning to save for retirement over the next 30 years. To do this, you will invest $800 a month in a stock account and $400 a month in a bond account. The return of the stock account is expected to be 10 percent., and the bond account will pay 6 percent. When you retire, you will combine your money into an account with a 7 percent return.

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

Reference no: EM13619991

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