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The interest rate is 4.7% per annum with discrete annual compounding. You want to create a principal protected note with a maturity of one year

image text in transcribed The interest rate is 4.7% per annum with discrete annual compounding. You want to create a principal protected note with a maturity of one year that is guaranteed to pay out at least $1000, and also provide the potential for some upside if the stock market does well. You buy a certain number of call options with an exercise price of $1000 to achieve your objective. That number need not be a whole number. What is the maximum dollar value of the call options that you can buy? Your answer should be correct to two decimal places. 44.89 margin of error +/0.01

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