According to the chief economist of a major bank, the annual appreciation (in %) of a residential property is normally distributed with a mean equal to the annual real estate inflation rate and a standard deviation of 4%. Note also that a negative value for residential value appreciation represents depreciation. Let's assume that the annual real estate inflation rate is 6%.

What percentage of residential properties will appreciate by more than 15%? - 13,94% - 17,97% - 4,01% - 11,51% - 1,22%