Multiple Choice
Bank A has checkable deposits of $510 million and total reserves of $55.2 million.The required reserve ratio is 9 percent.The bank has excess reserves of ______________ million.
A) $9.3
B) $50.2
C) $454.8
D) $45.9
E) There is not enough information provided to answer this question.
Correct Answer:
Verified
Correct Answer:
Verified
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