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You are planning to save for retirement over the next 30 years. To do this, you will invest $800 a month in a stock account
You are planning to save for retirement over the next 30 years. To do this, you will invest $800 a month in a stock account and $400 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 a single savings account with a 7 percent return. How much can you withdraw each month from your savings account, assuming a 25-year withdrawal period? Select one: O a. 15,621.21 b. 2,728.40 c. 189,658.09 O d. 34,944.35
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