Your best friend currently makes $60,000 per year at his job. He tells you that, at his firm, salary generally grows at a rate of 4 percent per year. Your friend can expect to make $120,000 per year in years. (Carefully follow all numeric directions. Enter only numbers and a decimal point as needed. Round your answer to one decimal place as needed. Ignore any effects from inflation in your answer.) Question 12 3 pts When Jade made a loan to his brother Floyd, he charged an interest rate of 8 percent and expected inflation to be 4.5 percent. From this we can guess Jade wanted a real return of percent. (Enter your answer "as a percent, but without the percentage sign." In other words, if Jade wanted a real interest rate of 99.99 percent, enter 99.99 in the blank.) You decide to auction off some art you've done for charity. People at this auction bid in certain denominations only, so there are only four possibilities for the price your art might get. Those are listed in the table below, along with the probability of each of them happening. Calculate the price you expect to get for your painting. Carefully follow all numeric directions. We'll reuse this data for the next question. Question 16 3 pts Consider again the scenario from the previous question: You decide to auction off some art you've done for charity. People at this auction bid in certain denominations only, so there are only four possibilities for the price your art might get. Those are listed in the table below, along with the probability of each of them happening. Let's call the above auction Auction A and say you calculate the standard deviation of this data to be about $136. Compare this to another, competing auction (Auction B) for which another economist has already run the data. They come up with the same expected value you did, but a variance of $15,400. is the riskier situation ("bet") because has a lower standard deviation