The market portfolio represented by the S&P 500 has a 12% expected return & 20% risk. The risk-free rate = 5% & the investors risk aversion coefficient A = 2.5.

Use Excel to plot the CAL and the indifference curve. Attach the Excel file to your submission in Canvas. Identify the optimal compete portfolio on the graph. Hint: There are several steps to solving this, which should be done in Excel. First, find the utility of the optimal complete portfolio.

I found the same wrong answer on Chegg a few times, so please do not copy-paste the same answer.