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A company enters into a repo agreement with a bank and it sells $10,000,000 of government bond with obligation to purchase the security in


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A company enters into a repo agreement with a bank and it sells $10,000,000 of government bond with obligation to purchase the security in 60 days. If the repo rate is 8.2%. what is the repurchase price of the bond? Assume a 365 days year.

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