Exercise 1 (10 pts) Three months ago, Mr. Yacoubi took a short position in a forward contract on gold at the forward price of Fo (each contract is for 100 ounces). Today the contract matures and the spot price of gold is S. The contract is being cash settled. If S > Fo then Mr. Yacoubi is going to A: pay the cash settlement amount B: receive the cash settlement amount C: neither pay nor receive (we need more information to tell) Exercise 2 (10 pts) Seven months ago, Mrs. White took a short position in a one year (maturity of one year) futures contract on silver at the futures price of Fo (each contract is for 5000 ounces). Today the futures price of futures contracts on silver that mature in five months is F1. Mrs. White wants to close out her position in the futures contract. If F;