What is the expected return for elizabeths investment


Elizabeth evenly divided her investments in the common stocks of Apple and Microsoft. There are equal chances that the economy enters into a boom or bust. Apple is expected to earn a return of 30% during the boom and -10% during the bust. Microsoft is expected to earn a return of -5% during the boom and 25% during the bust. What is the expected return for Elizabeth's investment portfolio?

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Financial Management: What is the expected return for elizabeths investment
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