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You are planning to save for retirement over the next 15 years. To do this, you will invest $900 a month in a stock account
You are planning to save for retirement over the next 15 years. To do this, you will invest $900 a month in a stock account and $600 a month in a bond account. The return of the stock account is expected to be 9 percent APR compounded monthly, and the bond account will pay 6 percent APR compounded monthly. 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? |
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