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14. You are interested in an investment fund with an expected annual rate of return of 15% and a standard deviation of 12% a year.

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14. You are interested in an investment fund with an expected annual rate of return of 15% and a standard deviation of 12% a year. If you invest $2 million in this fund, what is 95%VaR ? In other words, there is 95% confidence that you will not lose more than (_) over one year. How much money should be in the parentheses? Assume that the returns on the fund follow a normal distribution

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