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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
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
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