You are planning to save for retirement over the next 30 years, To do this, you will invest $850 per month in a stock account and $350 per month in a bond account starting 1-month from today. You expect the stock account to return 10% per year (compounded daily over a 360 day year) and you expect the bond account to earn 6% per year (compound weekly). When you retire, you will combine your money into a retirement account with an annual return of 7.2% (compounded monthly). You want to make monthly withdrawals from the account (beginning 1-month after you retire) that grows at a rate of 0.25% per month, and continue each month for 25 years (at which time you will die). You also want to leave $1,000,000 to your grandchildren when you die. You decide to determine in a systematic fashion the amount of your first monthly withdrawal while maintaining at least 6 significant digits for all percentages(i-e x.xxxxx% or 0.0xxxxxx).

a) What amount do you expect to have in the stock and bond accounts 30 years from now?

b) Using the answer to part a. is $2,290,4000, what is the amount of the first monthly withdrawal from the retirement account?