3 (c) The forward price of a commodity for a contract maturing in nine months is $550 per ounce. A company has a forward contract to buy 1,000 oz. of the commodity for a delivery price of $530 in nine months. The nine-month risk-free rate is 4% per annum, continuously compounded. Calculate the value of the forward contract. (5 Marks) 3 (c) The forward price of a commodity for a contract maturing in nine months is $550 per ounce. A company has a forward contract to buy 1,000 oz. of the commodity for a delivery price of $530 in nine months. The nine-month risk-free rate is 4% per annum, continuously compounded. Calculate the value of the forward contract