8. The one year repo rate is 3% and Five Year Bonds with a 5% annual coupon have an effective annual YTM of 5%. What is the carry on a one year repo of this bond? Assume a par value of $100,000. 9. If the haircut is 5% what is the maximum loan available in the repo market on the bond in question #8? 10. Assume you enter into a one year repo loan and simultaneously purchase the bond in #8. If the effective annual YTM on four year bonds is 6% at the end of next year, how much cash will you have if you sell the bond at the end of next year and you use the proceeds to repay your repo loan? (Assume no haircut.)