Question: Please show how to solve it using a financial calculator (BA II Plus Texas Instruments), step by step. Thank you! P6-32 Calculating Annuities [LO1] You

Please show how to solve it using a financial calculator (BA II Plus Texas Instruments), step by step. Thank you!

P6-32 Calculating Annuities [LO1]

You are planning to save for retirement over the next 20 years. To do this, you will invest $1,500 a month in a stock account and $1,200 a month in a bond account. The return of the stock account is expected to be 9 percent, and the bond account will pay 7 percent. When you retire, you will combine your money into an account with a 8 percent return.

Required:

How much can you withdraw each month from your account assuming a 25-year withdrawal period?(Do not round your intermediate calculations.)

rev: 09_17_2012

$12,808.14

$12,557

$12,305.86

$150,684.05

$787,575.82

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