11A. You are looking at an investment that has an effective annual rate of 7 percent.

A. What is the effective semiannual return?

B. What is the effective quarterly return?

C. What is the effective monthly return?

11B. You are planning to save for retirement over the next 15 years. To do this, you will invest $1,200 a month in a stock account and $900 a month in a bond account. The return of the stock account is expected to be 10 percent, and the bond account will pay 5 percent. When you retire, you will combine your money into an account with a return of 8 percent.

How much can you withdraw each month from your account assuming a 15-year withdrawal period?

A. $324,311.54

B. $7,051.99

C. $7,193.03

D. $6,910.95

E. $84,623.89