Question: Use the following table to answer the question below. Expected ret. std. dev. S&P500 13% 25% T-bill 3% Borrow 5% What is the maximum risk

Use the following table to answer the question below.

Expected ret. std. dev.
S&P500 13% 25%
T-bill 3%
Borrow 5%

What is the maximum risk aversion that makes an investor not borrowing?

Round your answer to 4 decimal places. For example, if your answer is 3.205%, then please write down 0.0321.

please give me the specific formula and step, thanks!

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