Consider a forward contract entered into by an investor to buy an asset at a future date. The forward price is determined by the spot price of the asset, the risk-free rate, and the time to maturity.
Assume the current spot price of the asset is $100, the risk-free interest rate is 5% per annum, and the time to maturity of the contract is 1 year. Under these conditions, what would be the forward price of the asset?