Question: please solve this problem without using excel and show steps. 3 3. A stock index's current price is 1000. The index pays continuous dividends at

please solve this problem without using excel and show steps.

3 3. A stock index's current price is 1000. The index pays continuous dividends at an annual compounded rate of 0.02. The continuously compounded risk-free interest rate is 0.07. Calculate the amount payable immediately by an investor who buys a one-year short off-market forward contract with price 1000

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