Which of the following are typical repurchase agreement maturities? Check all that apply.

$1$ day

$1$ month

$3$ months

$180$

Which of the following are characteristics of repurchase agreements? Check all that apply.

Their maturities are normally between $1$ and $15$ days, $1$ month, $3$ months, or $6$ months.

The size of the repo market is approximately $$5$ trillion.

Most repo transactions are backed by commercial paper or NCDs$.$

There is no secondary market for repurchase agreements.

Suppose Teresa initially purchased securities at a price of $$19,800,000$ while agreeing to sell them back to the original owner at a price of $$20,000,000$ at the end of a $6-$month period. Assuming a $360$ day year, the yield $($or repo rate$)$ on this repurchase agreement is: