How much can be withdrawn each month from the account

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You are planning to save for retirement over the next 30 years. To do this, you will invest $ 700 a month in a stock account and $ 300 a month in a bond account. The return of the stock account is expected to be 11 percent, and the bond account will pay 6 percent. When you retire, you will combine your money into an account with 9 percent return. How much can you withdraw each month from your account assuming a 25 year withdrawal period?

Reference no: EM13222756

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