You are planning to save for retirement over the next 25 years. To do this, you will invest $500 a month in a stock account and $200 a month in a bond account. The return of the stock account is expected to be 8 percent, and the bond account will pay 4 percent. When you retire, you will combine your money into an account with a 7 percent return. Required: How much can you withdraw each month from your account assuming a 20-year withdrawal period?(Do not round your intermediate calculations.)
$4,394.18
$258,539.43
$53,806.28
$4,573.53
$4,483.86