Three months ago, an investor entered into a six-month forward contract to sell a stock. The delivery price agreed to was $55. Today, the stock is trading at $45. Suppose the three-month interest rate is 4.80% in continuously compounded terms. Assuming the stock is not expected to pay any dividends over the next three months, what is the current forward price of the stock?

Explanation: The current forward price is 45 * e^{(0.048 * 3/12)} = 45.5433.