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Foggy Bottom Bank is lending $20,000,000 to Muddy Hall Bank in the fed funds market. If the loan is repaid next day with $20,000,300, what

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Foggy Bottom Bank is lending $20,000,000 to Muddy Hall Bank in the fed funds market. If the loan is repaid next day with $20,000,300, what is the fed funds rate of this contract? (Use the single payment rate.) O A. 0.63% B. 0.36% C. 0.45% D. 0.54% O E. 0.27%

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