I found the last 3 questions really hard. With the last question was it possible to calculate the value of the loan without knowing the option price? Also with question 10 i got it to be the sum of two normal variables, but was confused as to whether they were dependent or independent.
They were dependent, which makes it nasty. Var(X+Y) = Var (X) + Var (Y) + 2Cov(X, Y) and the 2Cov(X, Y) was really nasty. Expect you got further than most though and any working on Var(X) and Var(Y) is likely to have picked you up some marks.
