Problem:
Assume that the returns from an asset are normally distributed. The average annual return for this asset over a specific period was 14.6 percent and the standard deviation of those stocks in this period was 42.90 percent.
Requirement:
Question 1: What is the approximate probability that your money will double in value in a single year?
Question 2: What about triple in value?
Note: Please describe comprehensively and provide step by step solution.