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You had $10,000 to invest and have decided invest in a combination of Julip Fund...

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Accounting

You had $10,000 to invest and have decided invest in a combination of Julip Fund (which has an expected return of 15%) and the risk-free asset (the risk-free rate is 3%). If your goal is to have an expected return of 6%, how much in dollars should be invested in the RISK-FREE asset? (Note you are asked for $ in risk-free, not $ in Julip). Express your answer rounded and accurate to the nearest whole dollar (do not include a dollar sign).

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