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Suppose that the prices of future contracts on commodity A with different T (year) are given by The spot price of this commodity is $200.
Suppose that the prices of future contracts on commodity A with different T (year) are given by The spot price of this commodity is $200. Assume that there is no risks and net convenience yield is zero. The one-year spot rate from today and T=1 is \begin{tabular}{l} 1.5% \\ \hline 1.0% \\ \hline 2.0% \\ \hline 3.0% \end{tabular}
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