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The following returns have been estimated for Security T and Security S: Scenario Security T Security S 1 20% 10% 2 13% -6% 3 15%

The following returns have been estimated for Security T and Security S:

Scenario

Security T

Security S

1

20%

10%

2

13%

-6%

3

15%

20%

Each scenario is equally likely to occur, and you plan to invest 70% in Security T and 30% in Security S. What is the expected return of the portfolio? Round your answer to the nearest tenth of a percent.

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