Patty Schemelenberg, a 45-year-old woman, wishes to accumulate $300,000 over the next 15 years to supplement the retirement programs that are being funded by the federal government and her employer. She expects to earn an average annual return of about 8% by investing in a low-risk portfolio containing about 20% short-term securities, 30% common stock, and 50% bonds. Patty currently has $31,500 that at an 8% annual rate of return will grow to about $100,000 at the end of 15 years (found using time-value techniques that will be described in Chapter 4