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Suppose that the spot price of gold is 450. The total cost of insurance and storage for gold is 30 per year, payable in advance.

Suppose that the spot price of gold is 450. The total cost of insurance and storage for gold is 30 per year, payable in advance. The rate oif interest for borrowing and lending is 10%. If the forward price is 600 how much money could you make from arbitrage at expiration of the forward? A) 64 B) 75 C) 120 D) 72 E) 164

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