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You are a bond dealer that wants to enter a 6 day repo with a bank on $50M of collateral. The collateral you are using

You are a bond dealer that wants to enter a 6 day repo with a bank on $50M of collateral. The collateral you are using is a T-bond with a coupon of 6% and a market price of $96 per $100 face. The security has a haircut x, of 2%. The accrued interest is $3 per $100 face value. The repo rate is 5.5% per annum. What is the loan amount and what is the amount repayable at maturity? Apply the haircut (x) above by multiplying the dirty price by (1-x),

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