Demonstrate that the put-call parity condition provides two equivalent ways of guaranteeing a minimum value for a fund using European options.

You have at-the-money call and put options on the index available, priced at 170.68 and 153.21 respectively. The index stands at 600 and the one year risk free interest rate is 3%.

construct a put protected investment that guarantees a sum of $900,000 on expiry of options with a maturity of one year.