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You are planning your retirement in 1 0 years. You currently have $ 1 7 4 , 0 0 0 in a bond account and
You are planning your retirement in years. You currently have $ in a bond account and $ in a stock account. You plan to add $ per year at the end of each of the next years to your bond account. The stock account willearn a return of percent and the bond account will earn a return of percent. When you retire, you plan to withdraw an equal amount for each of the next years at the end of each year and have nothing left. Additionally, when you retire you will transfer your money to an account that earns percent
Required: How much can you withdraw each year in your retirement? Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations.Round your answer to decimal places egHint: Calculate the balances in both accounts at retirement, sum, put this number in as PV and calculate the PMT that will deplete this account.
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