ank of New City has $750 million in deposits. The required reserve ratio is 15%. Bank of New City must keep_______ in reserves. $150.5 million $60.5 million $112.5 million $160.5 million
ank of New City has $750 million in deposits. The required reserve ratio is 15%. Bank of New City must keep_______ in reserves. $150.5 million $60.5 million $112.5 million $160.5 million
Chapter25: Money Creation
Section: Chapter Questions
Problem 18SQ
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Question
20.
Bank of New City has $750 million in deposits. The
Bank of New City must keep_______ in reserves.
- $150.5 million
- $60.5 million
- $112.5 million
- $160.5 million
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