You are planning to save for retirement over the next 30

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Reference no: EM13623156

You are planning to save for retirement over the next 30 years. To do this, you will invest $600 a month in a stock account and $300 a month in a bond account. The return of the stock account is expected to be 8 percent, and the bond account will pay 4 percent. When you retire, you will combine your money into an account with a 6 percent return.

Required:

How much can you withdraw each month from your account assuming a 20-year withdrawal period?

Reference no: EM13623156

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