The annual effective rate of return from an insurance company's investments in year t, i, has mean of 6.5% and a standard deviation of 14%. The annual effective return in each year is independent of previous years, and it is assumed that the random variable (1+i,) has a log-Normal distribution with parameters p and of. Calculate the value of u. Express your answer as a percentage to FOUR decimal places (e.g. 8.2413% should be entered as 8.2413 only, NOT as 8.2413%, 0.0824 or 0.082413). Answer: Check

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