You are planning to save for retirement over the next 30 years. To do this, you will invest $780 a month in a stock account and $380 a month in a bond account. The return of the stock account is expected to be 9.8 percent, and the bond account will pay 5.8 percent. When you retire, you will combine your money into an account with an 6.8 percent return. How much can you withdraw each month from your account assuming a 25-year withdrawal period? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) Withdrawal per month

You are planning to save for retirement over the next 30 years. To do this, you will invest $780 a month in a stock account and $380 a month in a bond account. The return of the stock account is expected to be 9.8 percent, and the bond account will pay 5.8 percent. When you retire, you will combine your money into an account with an 6.8 percent return. How much can you withdraw each month from your account assuming a 25-year withdrawal period? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) Withdrawal per month

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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