1. Chris had $80,000 in investments at the beginning of the year that consisted of a diversified portfolio of stocks (30 percent); bonds (50 percent) and cash equivalents (20 percent). His returns over the past 12 months were 6 percent on stocks, 3 percent on bounds and 1 percent on cash equivalents.
a) What is Chris's average return for the year?
b) Calculate the amount of stocks, bonds and cash equivalents in his portfolio today.