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A 9-month futures contract is trading at $1200. The monthly compounded risk-free rate is 1% (per year). What is the 6-month futures price implied by

A 9-month futures contract is trading at $1200. The monthly compounded risk-free rate is 1% (per year). What is the 6-month futures price implied by the 9-month futures contract?

a. $1,191

b. $1,200

c. $1,197

d. $1,188

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