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In a reverse repo transaction, a bank buys Treasury bonds whose market value is $10 million and lends 95% of the market value to the
In a reverse repo transaction, a bank buys Treasury bonds whose market value is $10 million and lends 95% of the market value to the seller (i.e., the borrower) with the promise to sell the bonds back in 12 days. What is the bank's profit if the repo rate is 3.3%? Round to the nearest dollar, drop the $ sign.
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