Q15.A European call with strike $20 expires in one month. The underlying asset of this call has current value $22. The yearly volatility is 30% and the current interest rate is 4% pa.

Using the Black-Scholes model, what is the premium of the call(0)correct to four significant figures? Do not include the dollar sign ($) in your answer.

Q16.A European call with strike $20 expires in one month. The underlying asset of this call has current value $22. The yearly volatility is 30% and the current interest rate is 4% pa.

For a two-step binomial model what is the up factor correct to four significant figures?