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QUESTION
The following returns have been estimated for Security T and S:
The following returns have been estimated for Security T and 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.
Refer to the information above. What is the expected return of the portfolio? Round your answer to the nearest tenth of a percent.
