1. The current price of silver is $8 per ounce. Storage costs are 10 cents per ounce per year. Storage costs are payable in two installments, half today and half in six months. The term structure is flat at 5%. Compute the futures price for a one ounce one year contract.

2. What is a Balanced Scorecard, and what are the factors that need to be considered in its development? Support your response with references.

3. Calculate the future value in four years of $7,000 received today if your investments pay (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Future Value a. 5 percent compounded annually $ b. 7 percent compounded annually c. 9 percent compounded annually d. 9 percent compounded semiannually e. 9 percent compounded quarterly.