1- On March 1st, the forward price on 3 month Treasury Bills of face value CHF 1, deliverable on June 1st and payable on August 30th is CHF 0.97. On March 1st, the spot price for bills of the same face value and maturing on May 30th and August 30th is 0.069388 and 0.95, respectively. Is there an arbitrage opportunity at these prices? If so, describe it and compute the prots per unit. 2. The twomonth interest rate in Switzerland and the United States are 3% and 8% per annum, respectively (not anymore, but certainly 5 years ago), with continuous compolmding. The spot price of the Swiss Franc if US$ 0.6500. The futures price for a contract deliverable in two months is US$ 0.6500. 'What arbitrage opportunities does this create? 3. The current price of silver is :3 9 per ounce. The storage costs are .0 0.24 per olmce per year, payable quarterly. Assuming that interest rates are 10% for all maturities, calculate the futures price of silver deliverable in 9 months