You are planning to save for retirement over the next 30 years. To save for retirement, you will invest $1,900 a month in a stock account in real dollars and $615 a month in a bond account in real dollars. The effective annual return of the stock account is expected to be 12 percent and the bond account will earn 7 percent. When you retire, you will combine your money into an account with an effective annual return of 8 percent. The inflation rate over this period is expected to be an effective annual rate of 5 percent.

a.How much can you withdraw each month from your account in real terms assuming a withdrawal period of 25 years?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

b.What is the nominal dollar amount of your last withdrawal?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)