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Your portfolio is contains $11,385 invested in a mutual fund with a beta of 2.4, and...

Your portfolio is contains $11,385 invested in a mutual fund with a beta of 2.4, and $980 invested in an ETF with a beta of 0.4. How much (in $) should you transfer from the mutual fund to the ETF so that your overall portfolio beta is 0.9? You will not add any money to the portfolio, you are just transferring money from one asset to another.

If re-balancing requires transferring money from the ETF to the mutual fund, write the answer as a negative number.

Answer is 8,294 need to know how to arrive to that number

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