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6. Assume a bank has a portfolio of stocks with a current market value of $1,500,000 million. If the recent volatility of the portfolio, as

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6. Assume a bank has a portfolio of stocks with a current market value of $1,500,000 million. If the recent volatility of the portfolio, as measured by the standard deviation, is 2.6%, what is the estimated value at risk (VAR) using a 95% level of confidence. Assume the returns are normally distributed. Assume a 10-day time horizon

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