Question: You want to know when your current portfolio will be sufficient for you to retire. You have the following balances in your portfolio: Government bond

 You want to know when your current portfolio will be sufficient

You want to know when your current portfolio will be sufficient for you to retire. You have the following balances in your portfolio: Government bond mutual fund (GB): $155,000 Large capital mutual fund (LC): $103,000 Small capital mutual fund (SC): $76,000 Real estate trust fund (RE): $83,000 Your goal is to have $2,400,000 to retire. The government bond mutual fund grows at 6.0% annually; the large capital mutual fund grows at 10.0% annually; the small capital mutual fund grows at 13.5% annually; and the real estate trust fund grows at 5.0% annually. Assuming that there will be no additional investments into any of these accounts, how long will it be until they reach the $2,400,000 goal? (Use excel solver) Answer: years (round to nearest tenths)

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