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3. The S&P 500 Index is currently trading at 1100 . The index pays dividends at a constant rate of 5% per annum. Calculate the

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3. The S\&P 500 Index is currently trading at 1100 . The index pays dividends at a constant rate of 5% per annum. Calculate the price of a prepaid forward contract for delivery of one unit of the index in 6 months

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