Question: There is a portfolio whose current value is $10 million. Its monthly returns are normally distributed with a mean of 3.7% and a standard deviation

  1. There is a portfolio whose current value is $10 million. Its monthly returns are normally distributed with a mean of 3.7% and a standard deviation of 0.5%.
    1. Compute the daily 99% and 95% VaRs of the portfolio
    2. Interpret the results of the VaRs above

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