Question

An investor is investing in a portfolio P that has expected returns of 8% and a standard deviation of 25%. Assume Rf=3%, Rm=12%, and the standard deviation of market returns is 15%. Create another portfolio X that is efficient and achieves the same expected return as P. If the investor wants to invest in portoflio X, what weight should he put on the risk-free bond? Please enter a number as a % (i.e. enter 5 without any other symbols, not 0.05 or "5%" if your answer is 5%).