Multiple Choice
A bank has checkable deposits of $1,000,000, loans of $600,000, and government securities of $400,000.If the required reserve ratio is 5 percent, the amount of required reserves is
A) $1,00,000
B) $30,000
C) $500,000
D) $30,000.
E) $20,000.
Correct Answer:
Verified
Correct Answer:
Verified
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