问题如下图：
选项：
A. 
B. 
C. 
解释：
老师 为什么C不影响？
NO.PZ2018062007000102 问题如下 Whiof the following factors es not affethe spot priof asset thhno interim costs or benefits? A.The time value of money B.The risk aversion of investors C.The prirecently paiother investors C is correct. The prirecently paiother investors is past information anes not affethe spot price. The time value of money anthe risk aversion of investors termine the scount rate. Only current information is relevant investors look ahea not back. 中文解析其他投资者最近支付的价格是过去的信息，不影响现货价格。资金的时间价值和投资者的风险厌恶决定了贴现率。题干要求选的是不影响的因素，因此选 即没有cost/benefit，这种情况下FP=S x (1+rf)^T?
NO.PZ2018062007000102 问题如下 Whiof the following factors es not affethe spot priof asset thhno interim costs or benefits? A.The time value of money B.The risk aversion of investors C.The prirecently paiother investors C is correct. The prirecently paiother investors is past information anes not affethe spot price. The time value of money anthe risk aversion of investors termine the scount rate. Only current information is relevant investors look ahea not back. 中文解析其他投资者最近支付的价格是过去的信息，不影响现货价格。资金的时间价值和投资者的风险厌恶决定了贴现率。题干要求选的是不影响的因素，因此选 如题，a是如何影响的
NO.PZ2018062007000102 问题如下 Whiof the following factors es not affethe spot priof asset thhno interim costs or benefits? A.The time value of money B.The risk aversion of investors C.The prirecently paiother investors C is correct. The prirecently paiother investors is past information anes not affethe spot price. The time value of money anthe risk aversion of investors termine the scount rate. Only current information is relevant investors look ahea not back. 中文解析其他投资者最近支付的价格是过去的信息，不影响现货价格。资金的时间价值和投资者的风险厌恶决定了贴现率。题干要求选的是不影响的因素，因此选 这道题用到哪一个公式？
NO.PZ2018062007000102 问题如下 Whiof the following factors es not affethe spot priof asset thhno interim costs or benefits? A.The time value of money B.The risk aversion of investors C.The prirecently paiother investors C is correct. The prirecently paiother investors is past information anes not affethe spot price. The time value of money anthe risk aversion of investors termine the scount rate. Only current information is relevant investors look ahea not back. 中文解析其他投资者最近支付的价格是过去的信息，不影响现货价格。资金的时间价值和投资者的风险厌恶决定了贴现率。题干要求选的是不影响的因素，因此选 贴现率不是都是rf rate吗，这题我是学串了吗
NO.PZ2018062007000102 The risk aversion of investors The prirecently paiother investors C is correct. The prirecently paiother investors is past information anes not affethe spot price. The time value of money anthe risk aversion of investors termine the scount rate. Only current information is relevant investors look ahea not back. 中文解析 其他投资者最近支付的价格是过去的信息，不影响现货价格。资金的时间价值和投资者的风险厌恶决定了贴现率。 题干要求选的是不影响的因素，因此选无套利定价中，spot price是rivative price的t=0时刻的现值吗？而rivative price是合约中的定价？不是很明白，老师帮忙讲一下
