1) You own a portfolio that has $17,000 invested in Stock A and $19,000 invested in Stock B. The expected returns on these stocks are 16.7 percent and 8.9 percent, respectively. What is the expected return on the portfolio?

2) You have $34,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 14.5 percent and Stock Y with an expected return of 7.6 percent. Your goal is to create a portfolio with an expected return of 13 percent. All money must be invested. How much will you invest in Stock X?