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) $100,000.
B) $30,000.
C) $50,000.
D) $80,000.
E) $20,000.
Correct Answer:
Verified
Correct Answer:
Verified
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