Question

Future value of a portfolio. Rachel and Richard want to know when their current portfolio will be sufficient for them to neire. They have the following balances in their portollog Money market account (MM): $37,000 Government bond mutual fund (GBk $145,000 Large capital mutual fund (LC): $107,000 Small capital mutual fund (SCk $75,000 Real estate trust fund (RE) $89,000 Rach el and Richard believe they need at least $2.70000 Otoresre at10.5% annualy. the t all capta mhal und gro sat 120% a how long will it be unti they reach the $2,700,000 goal? The money market accountgrows at 2 0% anual, te 0 ermettend mu aland pows at 65%n uan the wgee caleta dos ual y and the real estate t uet dgrows at 4 0% a my with the ass rionthat no mot ds wil be deo dnt ay see nears Rachel and Richard will need to vvest their accounts for or more years to reach $2,700,000 (Round to the nearest whole number)

Answer 1