The spot price of silver is ($ 15) per ounce. The storage costs are ($ 0.24) per
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The spot price of silver is \(\$ 15\) per ounce. The storage costs are \(\$ 0.24\) per ounce per year payable quarterly in advance. Assuming that interest rates are \(10 \%\) per annum for all maturities, calculate the futures price of silver for delivery in 9 months.
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