Multiple Choice
IZY Bank wants to make a $7 million loan. It has a reserve requirement of 15 percent. If the bank has $25 million in actual reserves to make this loan and meet its reserve requirement, IZY Bank's deposits can be no more than:
A) $18 million.
B) $48 million.
C) $120 million.
D) $375 million.
Correct Answer:
Verified
Correct Answer:
Verified
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