You are planning to save for retirement over the next 35 years. , you will invest $683
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Question:
You are planning to save for retirement over the next 35 years. , you will invest $683 per month in a stock account and $399 per month in a bond account. The return of the stock account is expected to be 12 percent, and the bond account will return 5 percent. When you retire, you will combine your money into an account with a return of 8 percent. How much can you withdraw each month from your account assuming a 30-year withdrawal period?
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