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You are planning to save for retirement over the next 25 years. To do this, you will invest $500 a month in a stock account

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You are planning to save for retirement over the next 25 years. To do this, you will invest $500 a month in a stock account and $200 a month in a bond account. The return of the stock account is expected to be 10 percent, and the bond account will pay 7 percent. When you retire, you will combine your money into an account with a 8 percent return. Required: How much can you withdraw each month from your account assuming a 20-year withdrawal period?(Do not round your intermediate calculations.) Multiple Choice $82,850.83 $6,766.15 $7,042.32 $6,904.24 $407,255.48

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