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You are planning to save for retirement over the next 4 0 years. To do this, you will invest $ 9 0 0 per month

You are planning to save for retirement over the next 40 years. To do this, you will invest $900 per month in a stock account and $500 per month in a bond account. The return of the stock account is expected to be 8 percent per year (compounded monthly), and the bond account will pay 6 percent per year (compounded monthly). When you retire, you will combine your money into an account with a 4 percent per year return (compounded monthly). How much can you withdraw each month from your account assuming a 25-year withdrawal period?

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