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Portfolio Analysis 5. The spot price of oil is $38 per barrel and the cost of storing a barrel of oil for one year is

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Portfolio Analysis

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5. The spot price of oil is $38 per barrel and the cost of storing a barrel of oil for one year is $3, payable at the end of the year. The risk-free interest rate is 4% per annum, discrete compounding. What is an upper bound for the one-year futures price of oil

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