D Question 1 12.5 pts An investor has a retirement portfolio comprised of 3 assets: cash, bonds and stocks. The investor will invest $13,020 in the retirement portfolio and wants to estimate the value of the investment in 16 years. The asset allocation (weights) of the retirement portfolio is as follows: Cash: 6%, Bonds: 16%, and the rest is Stocks. The expected returns of the assets in the retirement portfolio: Expected Asset Return (E(R)) Cash 3% Bond 5% 11% Stock Assume that the returns follow a normal distribution and that the estimated standard deviation (a) of returns of the portfolio is 22% per year. Use the expected CAGR to estimate the portfolio in 16 years. Round the answer to 2 decimal places