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You are planning to save for retirement over the next 30 years. To do this, you will invest $600 a month in a stock account

You are planning to save for retirement over the next 30 years. To do this, you will invest $600 a month in a stock account and $300 a month in a bond account. The return of the stock account is expected to be 9 percent, and the bond account will pay 6 percent. When you retire, you will combine your money into an account with a return of 7 percent.

How much can you withdraw each month from your account assuming a 25-year withdrawal period?

  1. $118,721.99
  2. $9,695.63
  3. $9,893.5
  4. $10,091.37
  5. $606,590.82

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