QuickHelper

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Teaching Since: May 2017
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  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

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  • Corportae Manager
    ChevronTexaco Corporation
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Category > Accounting Posted 31 May 2017 My Price 12.00

How much can you withdraw each month from your account

Question description

 

 

You are planning to save for retirement over the next 35 years. To do this, you will invest $710 a month in a stock account and $310 a month in a bond account. The return of the stock account is expected to be 9.1 percent, and the bond account will pay 5.1 percent. When you retire, you will combine your money into an account with a return of 6.1 percent.
 

How much can you withdraw each month from your account assuming a 30-year withdrawal period? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

 

 Withdrawal $  per month  

Answers

QuickHelper
(10)
Status NEW Posted 31 May 2017 09:05 PM My Price 12.00

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