bank with no excess reserves has a target reserve ratio of 0.15 and has $120 reserves. Assuming its only assets are reserves and loans to customers, what the dollar value of these loans? Round to two decimal places and do not enter the currency symbol. If your nswer is $6.114, enter 6.11. If your answer is $6.115, enter 6.12. If appropriate, emember to enter the - sign.)
bank with no excess reserves has a target reserve ratio of 0.15 and has $120 reserves. Assuming its only assets are reserves and loans to customers, what the dollar value of these loans? Round to two decimal places and do not enter the currency symbol. If your nswer is $6.114, enter 6.11. If your answer is $6.115, enter 6.12. If appropriate, emember to enter the - sign.)
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter12: Money, Banking And The Financial System
Section12.3: How Banking Developed
Problem 3ST
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