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Calculating Annuities (LO1) You are planning to save for retirement over the next 30 years. lo do this, you will invest $800 a month in
Calculating Annuities (LO1) You are planning to save for retirement over the next 30 years. lo do this, you will invest $800 a month in a stock account and $400 a month in a bond account. The return of the stock account is expected to be 10%, and the bond account will pay 6%. When you retire, you will combine your money into an account with a 9% return. How much can you withdraw each month from your account assuming a 25-year withdrawal period? Assume that the APR is compounded monthly.
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