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Six months ago, you entered a short position in a one-year futures contract to sell an underlying asset for $45. Today, you can sell that

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Six months ago, you entered a short position in a one-year futures contract to sell an underlying asset for $45. Today, you can sell that short position for a profit of $4.80. Assume the interest rate today is 10% per annum (with continuous compounding) for all horizons and the asset underlying the futures contract does not provide any income. (a) What is the futures price today for that futures contract (now with six months maturity left)? (b) What is the futures price today for a futures contract with one-year maturity? (c) How would the answers to question (a) and (b) change if the underlying asset pays a continuous income at the rate of 2% per year

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