Calculate the value of the forward contract?

A company enters into a forward contract with a bank to buy 100,000 pounds of aluminum at a price of $0.70 in one-years time. At that time, the spot price of aluminum is $0.72, the continuous interest rate 3%, and the applicable continuous storage cost 2%. What is the implied convenience yield?

The answer is 7.82%.

Refer to the information above on the aluminum forward contract on 100,000 pounds of aluminum in the previous problem. Consider that after six months pass, a six-month forward contract on aluminum would have a price of $0.95 and the interest rate is still 3%. What is the value of the companys forward contract?

The answer is $24,627.80.

Can someone help show how you get these answers? I know how to do the convenience yield question, but not the value of the forward contract part.