1. Based on the following information from the forecasting team, the Joya's, what is the standard deviation? (Do not round intermediate calculations. Round your final answer two decimal places.)

State of the Economy	Probability of State of the Economy	Rate of Return if State Occurs
Bear Market	0.24	-11.00%
Normal Market	0.27	12.50%
Bull Market	0.49	23.50%

2. The Joya's bought a summer home and now have a 30-year, $3,000,000 mortgage with a contract rate (APR) of 3.25 percent with monthly compounding. (Do not round intermediate calculations. Round your final answer two decimal places.)

-What is their monthly payment?

-How much interest will they pay during the first year?

-What is the total interest they will pay over the life of the mortgage?

3. How much money will the Joya's have in 20 years if they invest $1,000 today at 9 percent compounded annually? (Do not round intermediate calculations. Round your final answer two decimal places.)