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The risk-free rate of interest is 4% per annum with continuous compounding, and the fixed dividend yield on a stock index is 2% per annum.

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The risk-free rate of interest is 4% per annum with continuous compounding, and the fixed dividend yield on a stock index is 2% per annum. The three- month stock index futures price is $80 and the six- month stock index futures price is $81. Describe an arbitrage strategy

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