You are saving for retirement over the next 38 years. Your starting salary will be $64,000. This will grow at 6.5% per year. Each year, you will save 12% of your salary in a stock account, and 3% of your salary in a bond account. The return of the stock account is expected to be 10%, the bond account will return 1.8% per year. When you retire, you will combine your money into an account that earns 3.4%. All interest rates are APR with monthly compounding. 

How much can you withdraw each month from your account assuming a 18-year withdrawal period.

Please provide solution in excel with screenshots of formula's.

Answer rating: 100% (QA)

To calculate the future value of the retirement account we can use the following formula FV PMT 1 rn ... View the full answer