net cost of carry对于持有现货还是持有远期哪个更换的判断方法

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 需要考虑这个forwarlong还是short么？还是说两者结果都一样？

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？

答案错了吧，应该是C吧，按照答案，也选C啊