Let us consider a portfolio with two stocks: Amazon and Target. Position of Amazon is

$$100$ million, and position of Target is $$70$ million. Annualized standard deviation of the two stocks is $20\%$ and $30\%$; they have a correlation of $-0\mathrm{.}32.$

a$)$ What is the $99\%$ VaR for the next day?

b$)$ What is the $99\%$ VaR for the next $10$ days?

c$)$ What is the annual $95\%$ VaR?