这道题的AI0和AIT是什么

NO.PZ202108100100000105 问题如下 Baseon Exhibits 2 an3, anassuming annucompounng, the per share value of Troubaur’s short position in the TSI forwarcontrathree months after contrainitiation is closest to: A.$1.6549. B.$5.1561. C.$6.6549. C is correct. The no-arbitrage priof the forwarcontract, three months after contrainitiation, isF0.25 = FV0.25(S0.25 + CC0.25 – CB0.25)F0.25 = [$245 + 0 – $1.50 / (1 + 0.00325)(0.5-0,25) ] (1 + 0.00325)（0.75-0.25） = $243.8966.herefore, from the perspective of the long, the value of the TSI forwarcontraisV0.25= PV0.25 [F0.25 – F0]V0.25= ($243.8966 – $250.562289)/(1 + 0.00325)（0.75-0.25） = –$6.6549.Because Troubaur is short the TSI forwarcontract, the value of his position is a gain of $6.6549. 中文解析本题考察的是t时刻求value，有重新定价法和画图法两种方法。上述求解过程为重新定价法，即先求t=3时刻的远期合约价格F，然后和F作差后折现至t时刻即可。如果使用画图法，与课程讲法一致假设是long position，向上箭头表收到，向下的箭头表支出，二者相减即为所求的value。对应本题需要注意的是short头寸，因此最后求得结果需要取负号即可。具体计算过程如下图 如果画图法按照short position，那么在9月份的时间点应该是卖出标的资产并收到FP，合约期间，股票其实在short 头寸手中，按照箭头向上表示收到，箭头向下表示支出，以下是我的求解过程，麻烦老师帮忙看下vin不是应该是画在上面。

NO.PZ202108100100000105 问题如下 Baseon Exhibits 2 an3, anassuming annucompounng, the per share value of Troubaur’s short position in the TSI forwarcontrathree months after contrainitiation is closest to: A.$1.6549. B.$5.1561. C.$6.6549. C is correct. The no-arbitrage priof the forwarcontract, three months after contrainitiation, isF0.25 = FV0.25(S0.25 + CC0.25 – CB0.25)F0.25 = [$245 + 0 – $1.50 / (1 + 0.00325)(0.5-0,25) ] (1 + 0.00325)（0.75-0.25） = $243.8966.herefore, from the perspective of the long, the value of the TSI forwarcontraisV0.25= PV0.25 [F0.25 – F0]V0.25= ($243.8966 – $250.562289)/(1 + 0.00325)（0.75-0.25） = –$6.6549.Because Troubaur is short the TSI forwarcontract, the value of his position is a gain of $6.6549. 中文解析本题考察的是t时刻求value，有重新定价法和画图法两种方法。上述求解过程为重新定价法，即先求t=3时刻的远期合约价格F，然后和F作差后折现至t时刻即可。如果使用画图法，与课程讲法一致假设是long position，向上箭头表收到，向下的箭头表支出，二者相减即为所求的value。对应本题需要注意的是short头寸，因此最后求得结果需要取负号即可。具体计算过程如下图 本案中，Troubaur takes a short position in the TSI equity forwarcontract，请教如果是take a long position，也是应该St中减去PV（1.5分红）吗？

NO.PZ202108100100000105 问题如下 Baseon Exhibits 2 an3, anassuming annucompounng, the per share value of Troubaur’s short position in the TSI forwarcontrathree months after contrainitiation is closest to: A.$1.6549. B.$5.1561. C.$6.6549. C is correct. The no-arbitrage priof the forwarcontract, three months after contrainitiation, isF0.25 = FV0.25(S0.25 + CC0.25 – CB0.25)F0.25 = [$245 + 0 – $1.50 / (1 + 0.00325)(0.5-0,25) ] (1 + 0.00325)（0.75-0.25） = $243.8966.herefore, from the perspective of the long, the value of the TSI forwarcontraisV0.25= PV0.25 [F0.25 – F0]V0.25= ($243.8966 – $250.562289)/(1 + 0.00325)（0.75-0.25） = –$6.6549.Because Troubaur is short the TSI forwarcontract, the value of his position is a gain of $6.6549. 中文解析本题考察的是t时刻求value，有重新定价法和画图法两种方法。上述求解过程为重新定价法，即先求t=3时刻的远期合约价格F，然后和F作差后折现至t时刻即可。如果使用画图法，与课程讲法一致假设是long position，向上箭头表收到，向下的箭头表支出，二者相减即为所求的value。对应本题需要注意的是short头寸，因此最后求得结果需要取负号即可。具体计算过程如下图 FP=250.562289为什么是在9月结束的时候，画图法能看懂但是现金流老是对不上号,请老师再下，谢谢

NO.PZ202108100100000105 问题如下 Baseon Exhibits 2 an3, anassuming annucompounng, the per share value of Troubaur’s short position in the TSI forwarcontrathree months after contrainitiation is closest to: A.$1.6549. B.$5.1561. C.$6.6549. C is correct. The no-arbitrage priof the forwarcontract, three months after contrainitiation, isF0.25 = FV0.25(S0.25 + CC0.25 – CB0.25)F0.25 = [$245 + 0 – $1.50 / (1 + 0.00325)(0.5-0,25) ] (1 + 0.00325)（0.75-0.25） = $243.8966.herefore, from the perspective of the long, the value of the TSI forwarcontraisV0.25= PV0.25 [F0.25 – F0]V0.25= ($243.8966 – $250.562289)/(1 + 0.00325)（0.75-0.25） = –$6.6549.Because Troubaur is short the TSI forwarcontract, the value of his position is a gain of $6.6549. 中文解析本题考察的是t时刻求value，有重新定价法和画图法两种方法。上述求解过程为重新定价法，即先求t=3时刻的远期合约价格F，然后和F作差后折现至t时刻即可。如果使用画图法，与课程讲法一致假设是long position，向上箭头表收到，向下的箭头表支出，二者相减即为所求的value。对应本题需要注意的是short头寸，因此最后求得结果需要取负号即可。具体计算过程如下图 因为原题的设定，假如考虑了accrueinterest，那AI_t和AI_T也会抵消；如果没有这么巧合的设定，这道题是不是需要考虑两个accrueinterest？