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14. The S&P 500 Index is priced at $950.46. The annualized dividend yield on the index is 1.40%. The continuously compounded interest rate is 6.0%.

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14. The S&P 500 Index is priced at $950.46. The annualized dividend yield on the index is 1.40%. The continuously compounded interest rate is 6.0%. (That is, APR=6%.) What is the price of a 6-month prepaid forward contract on the S&P 500 Index? (A) $943.83 (B) $950.00 (C) $964.26 (D) $984.21 (E) None of the above

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