You have $35,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 14% & Stock Y with an expected return of 9%. If your goal is to create a portfolio with an expected return of 12%.

Required,

(a) how much money will you invest in Stock X?

A) $16,016

B) $14,630

C) $78,400

D) $16,170

E) $15,400

(b) How much money will you investment in Stock Y?

A) $20,580

B) $19,600

C) $18,620

D) $18,816

E) $20,384