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26 The spot price of gold is $1,760 per troy ounce. Gold storage costs are $3.00 per troy ounce per year payable monthly in advance.

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The spot price of gold is $1,760 per troy ounce. Gold storage costs are $3.00 per troy ounce per year payable monthly in advance. Assuming that continuously compounded interest rates are 3% per year, the futures price of gold for delivery in 3 months is closest to: O a. $1,779.25 Ob. $1,772.50 O c. $1,774.00

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