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You just started your first full time job out of college. Yourecall from your finance course the importance of starting to saveearly for retirement. You plan on making deposits of $215 per paycheck into a stock account and $130 per pay check into a bondaccount. You are paid every two weeks (26 pay checks per year). Itis your plan to make these deposits for the next thirty-years. Youexpect that you will earn 8.75% per year on the stock account and5.5% on the bond account. When you retire in thirty-years you planon depositing the balance the money into a money-market accountthat you expect should pay 2%. How much could you withdraw monthly,and have the money last for the next thirty years?
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