An index is 1,200. The three-month risk-free rate is 3% per annum and the dividend yield over the next three months is 1.2% per annum.

The six-month risk-free rate is 3.5% per annum and the dividend yield over the next six months is 1% per annum.

Estimate the futures price of the index for three-month and six-month contracts. All interest rates and dividend yields are continuously compounded.