You are planning to save for retirement over the next 25 years. To do this, you will invest $800 a month in a stock account and $500 a month in a bond account. The return of the stock account is expected to be 10 percent, and the bond account will pay 6 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 25-year withdrawal period?(Do not round your intermediate calculations.)

rev: 09_17_2012

Multiple Choice

• $11,084.23

• $10,649.55

• $10,866.89

• $130,402.71

• $559,515.53