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You are planning to save for retirement over the next 30 years. To do this, you will invest $1,500 a month in a stock account
You are planning to save for retirement over the next 30 years. To do this, you will invest $1,500 a month in a stock account and $1,200 a month in a bond account. The return of the stock account is expected to be 9 percent, and the bond account will pay 5 percent. When you retire, you will combine your money into an account with a return of 7 percent. How much can you withdraw each month from your account assuming a 20-year withdrawal period? Multiple Choice $28,452.92 $348,403.12 $29,614.26 $29,033.59 $1,265,420.43
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