Suppose the annual interest rate is 5%, the annual dividend yield is 1.5%, June 30th is the delivery date of June stock index futures contract, and April 30th corresponds to the spot index of 2800 points. F = S * ( 1 + (r - q)t)

f = 2800 *( 1+(0.05-0.0 15)* 2/ 12)= 28 16.33

If calculated according to compound interest

F = S * exp ((r - q)t)

f = 2800 * exp((0.05-0.0 15)* 2/ 12)= 28 16.38

Two is two months, and t is the year.

As a result, press the calculator yourself.

In practice, the dividend time is uncertain and uneven, so it needs to be converted into integral according to the actual dividend date and then the theoretical price is calculated.