Problem:
You have $12,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 11 percent and Stock Y with an expected return of 8.0 percent.
Required:
Question: If your goal is to create a portfolio with an expected return of 9.59 percent, how much money will you invest in Stock X and Stock Y?
Note: Please explain comprehensively and give step by step solution.