3. If the appropriate discount rate for the following cash flows is 9 percent compounded quarterly, what is the present value of the cash flows? Year Cash Flow $ 790 1234 860 0 1,340 4. You are planning to save for retirement over the next 30 years. To do this, you will invest $850 per month in a stock account and $350 per month in a bond account. The return of the stock account is expected to be 10 percent compounded monthly, and the bond account will pay 6 percent compounded monthly. When you retire, you will combine your money into an account with a return of 5 percent compounded monthly. How much can you withdraw each month from your account assuming a 25-year withdrawal period?