You are planning to save for retirement over the next 44 years. To do this, you will invest $500 a month in a stock account and

Question

3 years ago

11

You are planning to save for retirement over the next 44 years. To do this, you will invest $500 a month in a stock account and

$300 a month in a bond account, beginning one month from today. The return on the stock account is expected to be 9.6 percent, and the bond account will pay 5.4 percent. When you retire, you will combine your money into an account with a 5 percent return. You plan to make equal monthly withdrawals for 30 years from your retirement account beginning one month from your date of retirement. You also plan to leave $5 million as bequest to your beneficiaries. Calculate the amount of your monthly withdrawals.

Business

1 answer:

OverLord2011 [107] · Answer 1 · 2022-07-02T21:27:56+03:00

OverLord2011 [107]3 years ago

8 0

Answer:

MILLONS

Explanation: