Multiple Choice
XYZ Bank has total time deposits of $100 million. The Federal Reserve requires this bank to maintain 10 percent of its deposits. In this situation, the bank must maintain
A) $0.
B) $1,200,000.
C) $10,000,000.
D) $24,000,000.
E) $100,000,000.
Correct Answer:
Verified
Correct Answer:
Verified
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