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In a reverse repo transaction, a bank buys Treasury bonds whose market value is $10.2 million and lends 95% of the market value to the
In a reverse repo transaction, a bank buys Treasury bonds whose market value is $10.2 million and lends 95% of the market value to the seller (i.e., the borrower) with the promise to sell the bonds back in 6 days. What is the bank's profit if the repo rate is 3.63%? Round to the nearest dollar, drop the $ sign.
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