Consider a 4-month futures contract on a stock market index. The current dividend yield is 2.8% (annualized, cont. compounded) per year. The current index value is 436, the annual interest rate is 3.5% (annualized, cont. compounded). What is the forward/futures price? If you see the same futures contract trading at 439, what is the arbitrage trade, and what is the profit?

Using formulae such as : F0 = S0 e^((rq)T)