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You are planning to save for retirement over the next 25 years. To do this, you will invest $1,400 a month in a stock account
You are planning to save for retirement over the next 25 years. To do this, you will invest $1,400 a month in a stock account and $1,100 a month in a bond account. The return of the stock account is expected to be 8 percent, and the bond account will pay 5 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 20-year withdrawal period? Multiple Choice $15,401.29 $184,815.54 $15,709.32 $15,093.27 $841,824.22
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