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A portfolio consists of $575,000 in Microsoft stock and $725,000 in MasterCard stock. Volatility on a daily basis are 1.9 % and 1.25% respectively with

A portfolio consists of $575,000 in Microsoft stock and $725,000 in MasterCard stock. Volatility on a daily basis are 1.9 % and 1.25% respectively with a correlation coefficient of .45 between the two stocks. What is the five day 98% value at risk for the portfolio? Explain what the number means.

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