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The spot price of gold is $25 per ounce. The storage costs are $0.36 per ounce per year payable monthly in advance. Assuming that interest

The spot price of gold is $25 per ounce. The storage costs are $0.36 per ounce per year payable monthly in advance. Assuming that interest rates are 6% per annum for all maturities, calculate the futures price of gold for delivery in 3 months. (The interest rate is continuously compounded.)

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