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If you answer eveything correct i will give a thumbs up. You're now starting to set aside money for your future retirement. Here's what you
If you answer eveything correct i will give a thumbs up.
You're now starting to set aside money for your future retirement. Here's what you decided you'll do: over the next 30 years - i.e., until you retire - you'll be setting aside the same amount of money, regularly, by doing 2 things simultaneously: 1. Every month, you will buy $830 worth of stocks. The stock's annual rate of return is 10.3%. 2. Every month, you will buy $430 worth of bonds. The stock's annual rate of return is 6.3%. Then, when you retire, you'll pool all that money together and deposit it into your bank account with a(n) 7.3% APR. Every month, you'll be taking out cash from that account, and you will keep doing that for 25 years. When you retire, every month you should be able to withdraw $ (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 123.45) Step by Step Solution
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