Forwards and arbitrage At time t you own one stock that pays no dividends, and observe that
![](https://book.transtutors.com/qimg/ed8b29c3-3036-4515-9d0d-7f24fce25820.png)
What arbitrage is available to you, assuming you can only trade the stock, ZCB and forward contract? Be precise about the transactions you should execute to exploit the arbitrage.