Aasir can invest his money in risk-free asset and/or in a fund F. The risk-free asset provides a guaranteed
return of 4%. The fund F provides expected return of 12% with
volatility of 25%. If Aasir wants to limit his risk to no more than 20%, what is the highest expected return he can earn? If Aasir wants an expected return of at least 16%, what is the minimum possible volatility of his portfolio?