Risk Mgmt of Forward & Futures - EOC Q8 - Synthetic Cash

The question is the manager wants to create a synthetic cash position by converting equity exposure to cash for 3 months. My understanding is we would first need to compound the portfolio value by the risk free rate to find out how many futures contract to sell forward.

However, the answer goes straight to solving for the number of contracts without compounding.

Can someone please explain what I’m missing?