The money invested in stock X is $8,800.
Given,
Total investment in stock portfolio=$10000
Expected return from stock X=13%=0.13
Expected return from stock Y=8%=0.08
Expected return from portfolio=12.4%=0.124
The portfolio return is calculated by taking the weighted average of individual stock returns.
Let x represent the portfolio weightage of stock X.
1-x is the portfolio weightage of stock Y.
money invested in stock X be
0.124=0.13x+0.08(1-x)
0.124=0.13x+0.08-0.08x
0.124-0.08=0.05x
0.044=0.05x
x=0.88
money invested in stock X=0.88*10000=$8800
Thus, the money invested in stock X is $8,800.
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