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Having spent several years in the workforce, Mandy is now preparing to save for her retirement over the next three decades. Her strategy involves contributing
Having spent several years in the workforce, Mandy is now preparing to save for her retirement over the next three decades. Her strategy involves contributing $1,000 per month to a stock account and $500 per month to a bond account. The stock account is anticipated to yield a 12 percent return, while the bond account offers a 4.8 percent return. Upon retirement, Mandy intends to consolidate her funds into a unified account generating a 6 percent return. What would be the monthly withdrawal amount Mandy can sustain for a 25-year period?
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