Daniel is going to purchase two stocks to form the initial holdings in his portfolio. Iron stock has an expected return of $16$ percent,

while Copper stock has an expected return of $22$ percent.

Problem $7\mathrm{.}29$ a$1-$a$2($Solution Video$)($a$)$

If Daniel plans to invest $30$ percent of his funds in Iron and the remainder in Copper, what will be the expected return from his

portfolio? $($Round answer to $1$ decimal place, e$.$g$.17\mathrm{.}5\%.)$