Question
Q.) 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
Q.) 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 your account assuming a 25-year withdrawal period? Please provide the excel formula for the answer.
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