In the Black-Scholes-Merton option pricing formula, Nd₁) denotes: choose one)

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The notation Nd₁) in the Black-Scholes-Merton formula represents the cumulative distribution function (CDF) for a standard normal distribution, which gives the area under the normal distribution curve to the left of the value d₁. This corresponds to the probability that a normally distributed random variable takes on a value less than or equal to d₁.

In the Black-Scholes-Merton Option Pricing Formula, Nd1) Denotes: Choose One)

In the Black-Scholes-Merton Option Pricing Formula, Nd₁) Denotes: Choose One)