In the Absence of Arbitrage, the Futures Price at Maturity

Multiple Choice

In the absence of arbitrage, the futures price at maturity should equal

A) The price at inception plus interest on the margin account for the period of the contract.
B) The spot price of the underlying asset at that point.
C) The price at inception plus the storage cost for the asset over the contract period.
D) The price of the underlying asset minus a convenience yield.