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You are planning to save for retirement over the next 3 5 years. To do this, you will invest $ 7 1 0 per month

You are planning to save for retirement over the next 35 years. To do this, you will invest $710 per month in a stock account and $310 per month in a bond account. The return of the stock account is expected to be 9.1 percent, and the bond account will return 5.1 percent. When you retire, you will combine your money into an account with a return of 6.1 percent. How much can you withdraw each month from your account assuming a 30-year withdrawal period? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of .4 percent per year, compounded monthly for the first six months, increasing thereafter to 17.7 percent compounded monthly. Assume you transfer the $6,700 balance from your existing credit card and make no subsequent payments. How much interest will you owe at the end of the first year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)

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