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Apple Corporation sells $1,000,000 worth of Treasury Bonds to Bank of America and promises to buy it back in two weeks for $1,015,000 . In
Apple Corporation sells $1,000,000 worth of Treasury Bonds to Bank of America and promises to buy it back in two weeks for $1,015,000 . In essence, Apple borrows $1,000,000 from Bank of America for two weeks and gives those bonds to the bank as collateral. Bank of America charges Apple an interest rate of( )percent for the loan.
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