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Calculating Annuities [ LO 1 ] You are planning to save for retirement over the next 3 0 years. To do this, you will invest

Calculating Annuities [LO1] 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
$250 per month in a bond account. The return of the stock account is expected to be
11 percent, and the bond account will return 6 percent. When you retire, you will
combine your money into an account with a return of 5 percent. All interest rates are
APRs with monthly compounding. How much can you withdraw each month from
vour account assuming a 25-year withdrawal period?
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