Investments: Financial Stocks   At the end of September 2021, Toronto Dominion Bank (TD) stock cost $66 per share, was expected to yield 4% per year in dividends (calculated on the total value of TD stock you bought), and had a risk index of 3.0 per share, while CNA Financial Corp. (CNA) stock cost $42 per share, was expected to yield 3.5% per year in dividends, and had a risk index of 2.0 per share.† You have up to $25,800 to invest in these stocks, and would like to earn at least $958 in dividends over the course of a year. (Assume the dividends to be unchanged for the year.) How many shares (to the nearest tenth of a unit) of each stock should you purchase to meet your requirements and minimize the total risk index for your portfolio?     Toronto Dominion Bank _____shares CNA Financial Corp. ___shares     What is the minimum total risk index? (Round your answer to two decimal places.)

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Investments: Financial Stocks   At the end of September 2021, Toronto Dominion Bank (TD) stock cost $66 per share, was expected to yield 4% per year in dividends (calculated on the total value of TD stock you bought), and had a risk index of 3.0 per share, while CNA Financial Corp. (CNA) stock cost $42 per share, was expected to yield 3.5% per year in dividends, and had a risk index of 2.0 per share.† You have up to $25,800 to invest in these stocks, and would like to earn at least $958 in dividends over the course of a year. (Assume the dividends to be unchanged for the year.) How many shares (to the nearest tenth of a unit) of each stock should you purchase to meet your requirements and minimize the total risk index for your portfolio?
 
 
Toronto Dominion Bank _____shares
CNA Financial Corp. ___shares
 
 
What is the minimum total risk index? (Round your answer to two decimal places.)
 
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