On the basis of how long he has until retirement and his comfort with investment risk, Connor has decided that he wants to allocate the money in his retirement account as follows: 70% to equities, 15% to fixed income, and 15% to cash. If Connor assumes that each asset class provides the low end of the rates of return shown in the table below, what overall rate of return would he expect to earn over the long term? Asset Class Degree of Risk Historical Average Rate of Return Equities High 8% -12% Fixed Income Moderate 4% - 7% Cash Minimal 2% - 5% O 7.25% O 6.50% 0 4.34% O 1.43%