Question: The continuously compounded interest rate is 5% p.a. and the storage cost for copper is 8% p.a. What is the price of a 9-month futures

The continuously compounded interest rate is 5% p.a. and the storage cost for copper is 8% p.a. What is the price of a 9-month futures contract on copper, if the current spot price is $3.4 per pound? (Round your answer to 2 decimals.)

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