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You have $32,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 15.1 percent and Stock Y with
You have $32,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 15.1 percent and Stock Y with an expected return of 7.7 percent. Your goal is to create a portfolio with an expected return of 13 percent. All money must be invested. How much will you invest in Stock X? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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