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You're now starting to set aside money for your future retirement. Here's what you decided you'll do: over the next 25 years - i.e., until

You're now starting to set aside money for your future retirement. Here's what you decided you'll do: over the next 25 years - i.e., until you retire -you'llbe setting aside the same amount of money, regularly, by doing 2 things simultaneously:

  1. Every month, you will buy $700worth of stocks. The stock's annual rate of return is9 %.
  2. Every month, you will buy $300worth of bonds.The stock's annual rate of return is 5 %.

Then, when you retire, you'll pool all that money together and deposit it into your bank account with a(n)6 % APR. Every month, you'll be taking out cash from that account, and you will keep doing that for 20 years.

When you retire, every month you shouldbe able to withdraw $____ .

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