For the next 20 years, you plan to invest $600 a month in a stock account earning 7 percent and $400 a month in a bond account earning 4 percent. When you retire in 20 years, you will combine your money into an account with a return of 5 percent. How much can you withdraw each month during retirement assuming a 30-year withdrawal period?
A) $2,636.19
B) $2,904.11
C) $3,008.21
D) $2,465.44
E) $3,206.97
Correct Answer:
Verified
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