Multiple Choice
Suppose that the Bank of Oranges has excess reserves of $80,000,000 and checkable deposits of $500,000,000.If the bank has a reserve requirement of 10 percent,what is the bank's total amount of reserves?
A) $580,000,000
B) $130,000,000
C) $508,000,000
D) $30,000,000
E) $0
Correct Answer:
Verified
Correct Answer:
Verified
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