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An S&P 500 index linked CD matures in 4 years, with the face value the same as the current S&P 500 index price, $2400. Upon

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An S\&P 500 index linked CD matures in 4 years, with the face value the same as the current S\&P 500 index price, $2400. Upon its maturity, the investor will be paid back the face value, plus 60% of the gain on the S\&P 500 index. The S\&P 500 continuous dividend yield is 1.5% and continuously compounded risk-free rate is 4%. The S\&P 500 volatility is 25%. What is the fair value of this CD? $2215.48$2305.90$2351.73$2612.48

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