Q3: Suppose that the three-month interest rates in Norway and the US are, respectively, 8% and 4%. Suppose that the spot price of the Norwegian Kroner is $0.155. (a) Calculate the forward price for delivery in three months. (b) If the actual forward price is given to be $0.156, examine if there is an arbitrage opportunity. Q4: Three months ago, an investor entered into a six-month forward contract to sell a stock. The delivery price agreed to was $55. Today, the stock is trading at $45. Suppose the three-month interest rate is 4.80% in continuously compounded terms. (a) Assuming the stock is not expected to pay any dividends over the next three months, what is the current forward price of the stock? (b) What is the value of the contract held by the investor? (C) Suppose the stock is expected to pay a dividend of $2 in one month, and the one- month rate of interest is 4.70%. What are the current forward price and the value of the contract held by the investor