Suppose the returns on long$-$term corporate bonds and T$-$bills are normally distributed. Assume for a certain time period, long$-$term corporate bonds had an average return of $5\mathrm{.}8$ percent and a standard deviation of $8\mathrm{.}9$ percent. For the same period, T$-$bills had an average return of $4\mathrm{.}3$ percent and a standard deviation of $3\mathrm{.}1$ percent. Use the NORMDIST function in Excel$$raise to the power of $$ to answer the following questions:

What is the probability that in any given year, the return on long$-$term corporate bonds will be greater than $10$ percent? Less than $0$ percent?

Note: Do not round intermediate calculations and enter your answers as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

What is the probability that in any given year, the return on T$-$bills will be greater than $10$ percent? Less than $0$ percent?

Note: Do not round intermediate calculations and enter your answers as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

In one year, the return on long$-$term corporate bonds was $4\mathrm{.}7$ percent. How likely is it that such a low return will recur at some point in the future? T$-$bills had a return of $10\mathrm{.}62$ percent in this same year. How likely is it that such a high return on T$-$bills will recur at some point in the future?

Note: Do not round intermediate calculations and enter your answers as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$