Problem 1 My equity portfolio is currently worth $15 million. The expected return on my portfolio over the next trading day is 1%. I estimate that there is no more than 1% chance of the next day's return being -20%. Calculate VaR and VaR'. Problem 2 The expected return on my portfolio over the next day is 3%. The standard deviation of my portfolio daily returns is 20%. Find the worst-case return at 99% confidence level. That is, the return such that there is no more than 1% chance that the actual return will be lower than that, assuming normal return distribution