4. 32. Calculating annuities [LO 6.1] You are planning to save for retirement over the next 30...

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4. 32.

Calculating annuities [LO 6.1] You are planning to save for retirement over the next 30 years. To do this, you will invest $750 per month in a shares account and $250 per month in a bond account. The return of the shares account is expected to be 10 per cent and the bond account will pay 6 per cent. When you retire, you will combine your money into an account with a return of 5 per cent. How much can you withdraw each month from your account assuming a 25-year withdrawal period?

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