please provide working out to the following question:

Q1 Part (b) Mary and Steve are considering two investment options for their $20,000 savings as an alternative to insurance: a high-interest savings account with an annual yield of 5% p.a. compounded monthly, and a portfolio mix of $12,000 in equities (expected return of 7% ) and $8,000 in fixedincome securities (expected return of 4% ). You should assume the share portfolio compounds daily. Calculate the future value of their $20,000 under each investment option after 10 years