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17. A bank agrees to buy T-bills from a securities dealer for S997,250, and promises to sell the securities back to the dealer in 4

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17. A bank agrees to buy T-bills from a securities dealer for S997,250, and promises to sell the securities back to the dealer in 4 days for $997.575. What is the equivalent annual rate (EAR) on this reverse repo for the bank? (4 pts)

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