此时相当于要多减去(γ-θ)(1+r)的T次方，远期的价格就会变小，小于net cost of carry等于0时的远期价格。所以这道题选A。
“(γ-θ)(1+r)的T次方”这是什么？
问题如下图：
选项：
A. 
B. 
C. 
解释：
NO.PZ2016031201000025 问题如下 If the net cost of carry of asset is positive, then the priof a forwarcontraon thasset is most likely: A.lower thif the net cost of carry wzero. B.the same if the net cost of carry wzero. C.higher thif the net cost of carry wzero. A is correct.asset’s forwarpriis increasethe future value of any costs ancreasethe future value of any benefits: F0(T) =S0(1+r)T−(γ−θ)(1 +r)TF_0(T)\text{ }=S_0{(1+r)}^T-(\gamma-\theta){(1\text{ }+r)}^TF0(T) =S0(1+r)T−(γ−θ)(1 +r)T . If the net cost of carry (benefits less costs) is positive, the forwarpriis lower thif the net cost of carry wzero.中文解析下图中红色线框出来的部分即为net cost of carry，是作为减项存在的，所以当net cost of carry为正的时候，FP会降低。 net cost of carry是一个有严格定义的概念吗？从字面意思上来说不是应该=cost-benefit吗？
NO.PZ2016031201000025问题如下If the net cost of carry of asset is positive, then the priof a forwarcontraon thasset is most likely:A.lower thif the net cost of carry wzero.B.the same if the net cost of carry wzero.C.higher thif the net cost of carry wzero. A is correct.asset’s forwarpriis increasethe future value of any costs ancreasethe future value of any benefits: F0(T) =S0(1+r)T−(γ−θ)(1 +r)TF_0(T)\text{ }=S_0{(1+r)}^T-(\gamma-\theta){(1\text{ }+r)}^TF0(T) =S0(1+r)T−(γ−θ)(1 +r)T . If the net cost of carry (benefits less costs) is positive, the forwarpriis lower thif the net cost of carry wzero.中文解析下图中红色线框出来的部分即为net cost of carry，是作为减项存在的，所以当net cost of carry为正的时候，FP会降低。 net cost of carry若为positive，则现货更贵，远期更便宜。所以根据long便宜的，short贵的原则，我们应该持有远期同时卖出现货更划算。这个逻辑对吗？
NO.PZ2016031201000025 需要考虑这个forwarlong还是short么？还是说两者结果都一样？
答案错了吧，应该是C吧，按照答案，也选C啊
