Multiple Choice
Bank ABC has checkable deposits of $415 million and total reserves of $50 million.The required reserve ratio is 9 percent.The bank has excess reserves of
A) $365,000,000.
B) $45,500,000.
C) $12,650,000.
D) $14,550,000.
E) There is not enough information provided to answer this question.
Correct Answer:
Verified
Correct Answer:
Verified
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