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You are planning to save for retirement over the next 26 years. To save for retirement, you will invest $680 a month in a stock

You are planning to save for retirement over the next 26 years. To save for retirement, you will invest $680 a month in a stock account in real dollars and $320 a month in a bond account in real dollars. The effective annual return of the stock account is expected to be 13 percent, and the bond account will earn 6 percent. When you retire, you will combine your money into an account with an 10 percent effective return. The inflation rate over this period is expected to be 5 percent. Assuming a 28-year withdrawal period you can withdraw $____________each month from your account in real terms. The nominal dollar amount of your last withdrawal is $____________

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