Multiple Choice
The manager of the bank where you work tells you that the bank has $300 million in deposits and $255 million dollars in loans. If the reserve requirement is 10 percent, how much is the bank holding in excess reserves?
A) $15 million
B) $19.5 million
C) $25.5 million
D) $30 million
Correct Answer:
Verified
Correct Answer:
Verified
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