Problem:
You plan to invest $700 a month in a stock account and $300 a month in a bond account. The return of the stock account is expected to be 11 percent, and the bond account will pay 6 percent. When you retire in 30 years, you will combine your money into an account with a 8% return.
Required:
Question 1: Draw a timeline for this problem, properly label each parameter given in this question for the calculation.
Question 2: How much to withdraw monthly from the account assuming a 25-year withdrawal period?
Note: Please explain comprehensively and give step by step solution.