Question
You are planning to save for retirement over the next 25 years. To do this, you will invest $600 a month in a stock account
You are planning to save for retirement over the next 25 years. To do this, you will invest $600 a month in a stock account and $300 a month in a bond account. The return of the stock account is expected to be 9 percent, and the bond account will pay 5 percent. When you retire, you will combine your money into an account with a 7 percent return. |
Required:
How much can you withdraw each month from your account assuming a 25-year withdrawal period?(Do not round your intermediate calculations.) |
rev: 09_17_2012
$6,017
$6,137.34
$72,203.95
$359,682.98
$5,896.66
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