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Ayasha, age 30, is beginning to contemplate her financialfuture. Right now, she lives in a large city where she rents aone-bedroom apartment. Although she loves the excitement of thecity, she knows that someday she would like to move to the countryand live in a farmhouse. Her goal is to begin saving for thisobjective right away. Ayasha has identified three possibleportfolios that might be appropriate choices as she beginsinvesting to reach her objective. Each portfolio consists of thefollowing stocks, bonds, and cash assets.Portfolio 1Portfolio 2Portfolio 310% cash10% cash15% cash20% bonds40% bonds50% bonds70% stocks50% stocks35% stocksInstructions:Calculate the weighted average rate of return for eachportfolio, assuming that the average return of each asset is asfollows. (Hint: Multiply the allocation percentage by the rate ofreturn to determine the “weighted average” for the asset: stocks9%, bonds 4%, and cash assets 2%.) Which portfolio has the greatest level of uncertaintyassociated with the returns? How can you tell?If Ayasha?s risk tolerance is below average and she has along-time horizon (15 years), which of the three portfolios wouldbe most appropriate for her?If Ayasha?s time horizon for goal achievement is 4 years, whichportfolio would be most appropriate?What type of risk does Ayasha face if she invests in portfolio3?