Two problems

Question 7 (of 9) value: 10.00 points Problem 6-32 Calculating Annuities [LO1] You are planning to save for retirement over the next 35 years. To do this, you will invest $740 per month in a stock account and $340 per month in a bond account. The return of the stock account is expected to be 9.4 percent, and the bond account will pay 5.4 percent. When you retire, you will combine your money into an account with a 6.4 percent return. How much can you withdraw each month from your account assuming a 30-year withdrawal period? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Withdrawal per mon References eBook & Resources Section: 6.2 Valuing Level Cash Flows: Annu Perpetuities Worksheet Difficulty: Intermediate