Question: Please use excel solver (kindly post screenshots of the solver process in excel) to solve the question Bill Thomas earns $55,000 a year and has

Please use excel solver (kindly post screenshots of the solver process in excel) to solve the question

Bill Thomas earns $55,000 a year and has $9,000 to invest in a portfolio. His investment alternatives and their expected returns are shown in the table below.

Investment

Description

Expected Return

A

IRA (retirement)

3.5%

B

Employers retirement plan

4.5%

C

Deferred income (retirement)

8.0%

D

Unity mutual fund

7.0%

E

Liberty mutual fund

7.5%

F

Money market

5.5%

Bills investment goals are as follows and can be ranked according to the weights shown in parenthesis.

Question 1: Which investments should be included in Bills portfolio?

Question 2: How much should he invest in each?

Goal 1: (25) Invest all funds available.

Goal 2: (20) Maximize the total annual return in dollars, with a target of $1,000.

Goal 3: (15) Invest at least 3% of salary in employers retirement plan.

Goal 4: (15) Invest at least 10% of the total investment in the money market.

Goal 5: (10) Invest at most 25% of the total investment in retirement plans.

Goal 6: (10) Invest at least 50% of the total investment in non-retirement plans.

Goal 7: (5) Invest at most 50% of the total investment in mutual funds.

Question 3: Which investments should be included in Bills portfolio?

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