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You are planning to save for retirement over the next 2 5 years. To do this, you will invest $ 5 0 0 a month

You are planning to save for retirement over the next 25 years. To do this, you will invest $500 a month in a stock account and $200 a month in a bond account. The return of the stock account is expected to be 10 percent, and the bond account will pay 7 percent. When you retire, you will combine your money into an account with a return of 9 percent.
How much can you withdraw each month from your account assuming a 20-year withdrawal period?
Multiple Choice
$407,423.42
$89,119.41
$7,278.08
$7,575.15
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