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You have 2 options of investments: Investment A and Investment B. Each of investment has 1% chance of a loss of 5 million and 99%

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You have 2 options of investments: Investment A and Investment B. Each of investment has 1% chance of a loss of 5 million and 99% chance of a loss of 1.5 million. The investments are independent of each other. a) What is the VAR for each investment when the confidence level is 98%? (1 mark)

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