If the Spot Price for Platinum Is $979

question 51

Multiple Choice

If the spot price for platinum is $979.15 per ounce, what should the futures contract price be for a three-month contract at an annual interest rate of 3%?

• A)$963.93
• B)$973.82
• C)$979.15
• D)$986.41
• E)$1,036.45

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Definitions:

Trading Companies

Businesses specialized in facilitating international trade by dealing with different aspects such as import-export operations, and sometimes investing in commercial ventures.

Dutch Trading Routes

Networks used by the Netherlands in the 16th to 19th centuries for commerce and colonization, pivotal in establishing Dutch global trade dominance, particularly in spices and slaves.

New Netherland

A 17th-century colonial province of the Dutch Republic that included parts of modern-day New York, New Jersey, Pennsylvania, Maryland, Connecticut, and Delaware.

Wampum

Traditional shell beads of the Eastern Woodlands tribes of Native Americans, used for trading, storytelling, and ceremonial purposes.