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Suppose that a one-year forward contract is entered into for a commodity X with a spot price at that time of 1000. Say after 3

Suppose that a one-year forward contract is entered into for a commodity X with a spot price at that time of 1000. Say after 3 months that the spot price for X has increased to 1030. If we assume a force of interest rate of 4%, find the value of the short position in the forward contract after 3 months.

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