Using historical data on returns answer what is the maximum monthly loss given 90% probability.

Return No. Return No. 1 11 -5% No. 21 22 No. 41 -22% -16% No. 31 32 Return 4% 5% Return 9% 9% 10% 2 12 42 -5% -4% 3 -15% 13 43 23 24 Return 1% 2% 3% 3% 3% 3% 3% 33 34 4 14 -3% 44 11% -11% -10% 5 un 15 25 35 45 6 -8% 26 36 46 7 5% 6% 6% 6% 7% 8% 8% 9% -7% -3% -3% -2% -1% -1% 27 16 17 18 19 37 47 11% 11% 12% 12% 13% 14% 8 28 4% 38 48 -7% -7% -5% | | 29 9 10 39 49 4% 4% 20 0% 30 40 50 Return No. Return No. 1 11 -5% No. 21 22 No. 41 -22% -16% No. 31 32 Return 4% 5% Return 9% 9% 10% 2 12 42 -5% -4% 3 -15% 13 43 23 24 Return 1% 2% 3% 3% 3% 3% 3% 33 34 4 14 -3% 44 11% -11% -10% 5 un 15 25 35 45 6 -8% 26 36 46 7 5% 6% 6% 6% 7% 8% 8% 9% -7% -3% -3% -2% -1% -1% 27 16 17 18 19 37 47 11% 11% 12% 12% 13% 14% 8 28 4% 38 48 -7% -7% -5% | | 29 9 10 39 49 4% 4% 20 0% 30 40 50