Consider two local banks. Bank A has 120 loans outstanding, each for $11 million, that it expects will be repaid today Each toan has a 3% probability of default, in which case the bank is not repaid anything. The chance of default is independent across all the loans. Bank B has only one loan of $132 million outstanding, which it also expects will be repaid today. It also has a 3% probability of not being repaid Calculate the following a. The expected overall payoff of each bank b. The standard deviation of the overall payoff of each bank