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How much did this cost the US taxpayers in the first year

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Question - In 2008 a major bank in the US borrowed 10 million dollars for the US government at an annual rate of 0.50% compounded annually. They then used that money to purchase US government 30 year bonds that yield 4.65% compounded annually. How much did this cost the US taxpayers in the first year?

Reference no: EM132564681

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