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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
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): $34,000 Large capital mutual fund (LC) $108,000 Small capital mutual fund (SC) $72,000 Real estate trust fund (RE) $88,000 Rachel and Richard believe they need at least $2, 500,000 to retire. The money market account grows at 3.5% annually, the bond mutual fund grows at 5.5% annually, the large capital mutual fund grows at 9.5% annually, the small capital mutual fund grows at Rachel and Richard will need to invest their accounts for or more years to reach $2, 500,000
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