The One-Month (31-Day) GC Repo Rate for French Government Bonds

Multiple Choice

The one-month (31-day) GC repo rate for French government bonds is quoted to you at 3.75-80%. As collateral, you are offered EUR25 million nominal of the 5.5% OAT April 2006, which is worth EUR 28,137,500. If you impose an initial margin of 1%, the Repurchase Price is:

A) EUR 27,947,276.43
B) EUR 27,946,077.08
C) EUR 27,950,071.43
D) EUR 27,948,871.97