You're now starting to set aside money for your future retirement. Here's what you decided you'll do: over the next 30 years - i.e., until you retire - you'll be setting aside the same amount of money, regularly, by doing 2 things simultaneously:

Every month, you will buy $720 worth of stocks. The stock's annual rate of return is 9.2 %. Every month, you will buy $320 worth of bonds. The stock's annual rate of return is 5.2 %. Then, when you retire, you'll pool all that money together and deposit it into your bank account with a(n) 6.2 % APR. Every month, you'll be taking out cash from that account, and you will keep doing that for 25 years.

When you retire, every month you should be able to withdraw $____ ?

Answer rating: 100% (QA)

To calculate the monthly withdrawal amount during retirement we need to calculate the total amount t... View the full answer