An investor has a retirement portfolio comprised of 3 assets: cash, bonds and stocks. The investor will invest $14,553 in the retirement portfolio and wants to estimate the value of the investment in 10 years.

The asset allocation (weights) of the retirement portfolio is as follows: Cash: 14%, Bonds: 17%, and the rest is Stocks.

The expected returns of the assets in the retirement portfolio:

Asset	Expected Return (E(R))
Cash	3%
Bond	5%
Stock	10%

Assume that the returns follow a normal distribution and that the estimated standard deviation () of returns of the portfolio is 15% per year.

Use the expected CAGR to estimate the portfolio in 10 years.

Round the answer to 2 decimal places.