Problem:
You are planning to save for retirement over the next 28 years. To do this, you will invest $7000 a year in a stock account and $3000 a year in a bond account. The return of the stock account is expected to be 11 percent, and the bond account will pay 8 percent. When you retire, you will combine your money into an account with a 9 percent return.
Required:
Question: How much can you withdraw each year from your account assuming a 25-year withdrawal period?
Note: Please show guided help with steps and answer.