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You want to know when your current portfolio will be sufficient for you to retire. You have the following balances in your portfolio: Government bond

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You want to know when your current portfolio will be sufficient for you to retire. You have the following balances in your portfolio: Government bond mutual fund (GB): $155,000 Large capital mutual fund (LC): $103,000 Small capital mutual fund (SC): $76,000 Real estate trust fund (RE): $83,000 Your goal is to have $2,400,000 to retire. The government bond mutual fund grows at 6.0% annually; the large capital mutual fund grows at 10.0% annually; the small capital mutual fund grows at 13.5% annually; and the real estate trust fund grows at 5.0% annually. Assuming that there will be no additional investments into any of these accounts, how long will it be until they reach the $2,400,000 goal? (Use excel solver) Answer: years (round to nearest tenths)

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