Continuous Discrete

No Income 𝐹 = 𝑆0 𝑒 𝑟𝑡 𝐹 = 𝑆0 (1 + 𝑟)𝑡
Storage Costs 𝐹 = (𝑆0 +𝑈)𝑒 𝑟𝑡 𝐹 = (𝑆0 + 𝑈)(1 + 𝑟)𝑡
Storage Costs (Percentage) 𝐹 = 𝑆0 𝑒 (𝑟+𝑢)𝑡 1+𝑟 𝑡
𝐹 = 𝑆0 ( )
1+𝑢
Dividend Yield 𝐹 = 𝑆0 𝑒 (𝑟−𝑞)𝑡
Known Income 𝐹 = (𝑆0 − 𝐼)(1 + 𝑟)𝑡
Currency 𝐹 = 𝑆0 𝑒 (𝑟−𝑟𝑓)𝑡 1+𝑟 𝑡
𝐹 = 𝑆0 ( )
1 + 𝑟𝑓

𝐹−𝐾
𝑓=
(1 + 𝑟)𝑡

𝑢 𝑢
𝑈=𝑢+ 𝑡1
+
(1 + 𝑟) (1 + 𝑟)𝑡2
𝑖 𝑖
𝐼= 𝑡1
+
(1 + 𝑟) (1 + 𝑟)𝑡2
(𝑝𝑟𝑒𝑠𝑒𝑛𝑡 𝑣𝑎𝑙𝑢𝑒 𝑜𝑓 𝑎𝑙𝑙 𝑡ℎ𝑒 𝑒𝑥𝑝𝑒𝑐𝑡𝑒𝑑 𝑖𝑛𝑐𝑜𝑚𝑒)
1 − 𝐿𝑎𝑠𝑡 𝑃𝑉𝐹
𝑟𝑠𝑤𝑎𝑝 =
𝑠𝑢𝑚(𝑃𝑉𝐹𝑠)
𝑅2 𝑇2 + 𝑅1 𝑇1
𝑇2 − 𝑇1
𝑟 𝑚𝑡 10% 2(0.25)
(1 + ) = (1 + )
𝑚 2
(1 + 10%)(0.25) (1 + 𝐹𝑅1 )(0.75−0.25) = (1 + 10.5%)0.75

10% (1.5) 𝐹𝑅1 1 10.5% 1.5

(1 + ) (1 + ) = (1 + )
2 2 2
10.5% (1.5) 𝐹𝑅2 1 11% 2.5
(1 + ) (1 + ) = (1 + )
2 2 2
1
𝑟
(1 + 2)𝑡

𝑟 𝑚 𝑟 𝑚
(1 + ) = (1 + )
𝑚 𝑚
10% 2 𝑟 4
(1 + 2
) = (1 + 42 )
 10% 2
(1 + ) = 𝑒 𝑅𝑐
2
10% 2
𝑙𝑜𝑔𝑒 (1 + ) = 𝑅𝑐
2
10% 2
𝑙𝑛 (1 + ) = 𝑅𝑐
2
𝑒 10% = (1 + 𝑟𝑎 )