A multinational corporation is expecting cash flows in two currencies, the U.S. dollar ($) and the euro (). The standard deviation of monthly percentage changes in dollars is 12% and it is 5% for the euro. The correlation coefficient of monthly percentage changes between the two currencies is 0.47.

Part 1

If 30% of portfolio value is denominated in dollars and 70% in euros, what is the standard deviation of the portfolio?

answer has to be with 3+ decimals