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(i) Ecobank holds 450million T-Bill but is in short of cash. It needs cash to meet the requirement of a customer who has come to

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(i) Ecobank holds 450million T-Bill but is in short of cash. It needs cash to meet the requirement of a customer who has come to withdraw $400million. Ecobank approach Barclays Bank to sell the T-Bill for #395.5million on Monday morning with agreement to repurchase the bill on Friday evening. (a) How much in cedis does Ecobank lose in this transaction (5 marks) (b) What is the Repo Rate on this transaction

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