Question 1 Value at Risk (Delta-Normal Method) Suppose ABC company invest $100,000,000 portfolio of securities with a daily volatility (standard deviation) of 2.5\%. Assume the risk satisfies delta normal method assumptions, that is rti.i.dN(0,2.5%2) Step 1: Please determine the VaR at 95% confidence level over the next day. (First find the critical value of the standard normal at Z where =5%, VaR=mean +5dZ to calculate the Value at Risk. But if you use each =95%, and the VaR= mean- dZ. Either way will give you the same results. Make sure you choose the right and use the right sigh of VaR function.) Step 2: Please interpret the meaning of the VaR at 95% confidence level over the next day. Step3: Please determine the VaR at 95% confidence level over the next 10 days. Step 4: Please interpret the meaning of the VaR at 95% confidence level over the next 10 days