9.5.2 The current spot price for one ounce of gold is 900. The continu- ously compounded risk-free interest rate is 8% for all maturities = (a) Find the delivery price on a forward contract for one ounce of gold with delivery date (i) in 1 year, and (ii) in 2 years. (b) At time t=0 Smith enters a 2-year forward contract to buy an ounce of gold (long) and at the same time enters a 3-year forward contract to sell an ounce of gold (short). Find the combined value of Smith's forward contracts at time t=1 as a function of S, (the spot price of an ounce of gold at time t=1). (c) Suppose that at time t =1 the continuously compounded risk- free rate of interest for all maturities is 10%. Repeat part (b). =