Interest

问题如下：

With zero net cost of carry, the forward price of a commodity is most closely:

选项：

A.Below the spot price with risk-free compounding

B.Equal to the spot price with risk-free compounding

C.Above the spot price with risk-free compounding

解释：

When the cost of carry is zero, the forward price for a commodity should theoretically be the same as the spot price compounded at the risk-free rate. This is because the absence of any cost of carry factors, like storage or insurance, means the only cost to a holder is the opportunity cost of capital, which is represented by the risk-free rate. 当持有成本为零时，商品的远期价格理论上应该与以无风险利率复利计算的即期价格相同。这是因为没有任何持有成本因素，如储存或保险，这意味着持有者的唯一成本是资本的机会成本，该成本由无风险利率表示。