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12 What is the price of a European call option on a non-dividend-paying stock when the stock price is $52, the strike price is $50, the risk-free interest rate is 12% per annum, the volatility is 30% per annum, and the time to maturity is three months ? S = 52, K = 50, r=0.12,0 = 0.3, T = = 0.25 In(x) +(r+2) In( 32) + (0.12 +0,32) * 0.25 di OVT 0.3 x 70.25 0.039 + (0.12 + 0,09) * 0.25 0.039 + 0.041 0.080 = 0.533 0.3 x 0.5 0.15 0.15 d2 = d -OVT = 0.533 0.3 x 70.25 = 0.533 0.150 = 0.383 c = SN(di) Ke-T n(d2) = 52 x N(0.533) 50 x e-0.12x0.25 x N(0.383) = 52 x 0.703 50 x e-0.12X0.25 x 0.649 = 52 x 0.703 - 50 x e-0.03 X 0.649 52 x 0.703 50 X 0.970 x 0.649 = 36.556 - 31.477 = 5.079 Problem 5: What is the price of a European call option on a non-dividend-paying stock when the stock price is $51, the strike price is $50, the risk-free interest rate is 10% per annum, the volatility is 30% per annum, and the time to maturity is three months