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A bank plans on borrowing $200 million through an RP transaction collateralized by Treasury securities. It plans on borrowing the money for 7 days and
A bank plans on borrowing $200 million through an RP transaction collateralized by Treasury securities. It plans on borrowing the money for 7 days and the current RP rate is 1.25 percent. What is the bank's total interest cost in dollars? (Assume 360 days in a year.)
Group of answer choices
$41,667
$48,611
$47,945
$34,722
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