Question: The return on a mutual fund has a normal distribution with expected value of 15% and standard deviation of 22%. The NAV of the mutual

The return on a mutual fund has a normal distribution with expected value of 15% and standard deviation of 22%. The NAV of the mutual fund is $40. The fund is expected to distribute $2 in dividend to its shareholders one year from now. Calculate the probability that the NAV of the mutual fund a year from now (after the dividend distribution) will be between $50 and $60?

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