Question: PLEASE show in excel how to solve with the formulas, thank you! Future value of a portfolio. Rachel and Richard want to know when their

PLEASE show in excel how to solve with the formulas, thank you!PLEASE show in excel how to solve with the formulas, thank you!

Future value of a portfolio. Rachel and Richard want to know when their current portfolio will be sufficient for them to retire. They have the following balances in their portfolio: Money market account (MM): $37,000 Government bond mutual fund (GB): $150,000 Large capital mutual fund (LC): $103,000 Small capital mutual fund (SC): $76,000 Real estate trust fund (RE): $88,000 Rachel and Richard believe they need at least $1,900,000 to retire. The money market account grows at 2.0% annually, the government bond mutual fund grows at 5.5% annually, the large capital mutual fund grows at 8.5% annually, the small capital mutual fund grows at 12.0% annually, and the real estate trust fund grows at 3.5% annually. With the assumption that no more funds will be deposited into any of these accounts, how long will it be until they reach the $1,900,000 goal? Rachel and Richard will need to invest their accounts for or more years to reach $1,900,000. (Round to the nearest whole number.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!