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(9) You have $20,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 16 percent and Stock y

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(9) You have $20,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 16 percent and Stock y with an expected return of 6 percent. If your goal is to create a portfolio with an expected return of 12.3 percent, how much ($) will you need to invest in Stock X and Stock Y? (Remember the shortcut I showed you for computing a weighted average, and this is a very quick/easy one. Keep in mind the exams are timed, so your ability to get the right answer is not the only factor, but also your speed/efficiency.)

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