$7.$ Assume a bank has a portfolio of stocks with a current market value of $$1,500,000$ million.If the recent volatility of the portfolio, as measured by the standard deviation, is $2\mathrm{.}6\%,$ what is the estimated value at risk $($VAR$)$ using a $95\%$ level of confidence.Assume the returns are normally distributed. Assume a $10-$day time horizon.VAR $=1,500,000\backslash$times $(1\mathrm{.}645\backslash$times $0\mathrm{.}026)\backslash$times V $10=$ $$202,875\mathrm{.}92$