A commercial bank does a reverse repurchase agreement (or reverse repo) with a corporate customer who needs funds for 3

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answerhappygod
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A commercial bank does a reverse repurchase agreement (or reverse repo) with a corporate customer who needs funds for 3

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A commercial bank does a reverse repurchase agreement (or
reverse repo) with a corporate customer who needs funds for 3 days.
The bank agrees to buy Treasury securities from the corporation at
a price of $1,000,000 and promises to sell the securities back to
the corporate customer for $1,000,233 after 3 days. Calculate the
yield on the reverse repo.
Please round the final answer to three decimal places in
percentage form. (Write the percentage sign in the "units"
box)
Your Answer:
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