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F2=So (1+r)T2, and F1 = S. (1+r)Tl, then F2/F1 = [S. (1+r)T2 / So (1+r)TI], and F2 = F1 x (1+r)T2 (1+r)T1 So, why is

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F2=So (1+r)T2, and F1 = S. (1+r)Tl, then F2/F1 = [S. (1+r)T2 / So (1+r)TI], and F2 = F1 x (1+r)T2 (1+r)T1 So, why is the final pricing rule an inequality, rather than a strict equality

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