1. A stock has current priceS0 = 40 . The annual continuous interest rate isr = .03 and the continuous dividend yield is δ = .01. You observe a one year
prepaid forward price of 39.60. Which of the following is true?
答案是：没有套利（其他选项是各种套利机会）
解释是39.6=S0exp(- δ t)=40exp(-0.01)
那等于这个forward price和r没关系？我记得F的公式不是S0exp(r t)什么的么？

2.The S&R index has a spot price of S0 = 1300 . The continuous interest rate is
r = .03and the continuous dividend yield is δ = 0 The one year forward
price is 1339.59. You enter into a forward sale contract and buy the index.
Which of the following positions is this equivalent to:
答案是：Sale of a one year zero-coupon bond with r = .03
第一，有句英文不理解，enter into a forward sale contract，是说long一个forward么？
第二，不能理解这两种组合为什么就等于答案的那个选项。。。

希望大牛们能指导一下。。。