You own a portfolio that is 17 percent invested in Stock X, 32 percent in Stock Y, and 51 percent in Stock Z. The expected returns on these three stocks are 12 percent, 15 percent, and 17 percent, respectively. Required:
What is the expected return on the portfolio?

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Answerno influence over determining price;

Answer1%

The correct answer is:   6.99 billion (as 6.986 billion is rounded off (to nearest hundredth place)  to 6.99 billion)explanation: the given function is:   y = 6.2(1.01)^x (1)where x =    number of years after 2000it means that in 2012, the value of x would be 12 as the difference between 2012 and 2000 is 12 years.put x = 12 in equation (1): (1) => y =  6.2(1.01)^12 = 6.986 billion = 6.99 billion