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You are planning to save for retirement over the next 40 years. To do this, you will invest $500 a month in a stock account
You are planning to save for retirement over the next 40 years. To do this, you will invest $500 a month in a stock account and $300 a month in a bond account. The return on the stock account is expected to be 9.6 percent, and the bond account will pay 5 percent. When you retire, you will combine your money into an account with a 6 percent return. How much can you withdraw each month during retirement assuming a 30-year withdrawal period?
A. $11,821.04
B. $19,539.70
C. $8,722.43
D. $17.342.61
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