Espinoza has $1,000 in cash, he deposits the total amount in Legion Banc. How much can LegionBanc lend from the mone Osited? (The Central Bank has a reserve requirement of 10%.)
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- Answer this question in no more than 5 sentences. Why is it necessary for money to possess the necessary attributes that qualify it as “good money”?Roy does not trust banks and has been keeping his earnings in coffee cans in a freezer. His friend Julia convinces him that banks are safe, and Roy finally opens a chequing account. When he deposits his money into the account that transaction will directly increase the money . FALSE TRUEBuying a cup of coffee with a dollar bill represents the use of money as a
- True or False. John agrees that “more money in the richest hands means money sitting in the bank doing nothing.”Will the additional $400,000 which was deposited in the Second National Bank affect the new loan?An advantage that money has over other assets is that it: a. Provides a higher return to the owner b. Is a safer asset to hold during times of inflation c. Increases in value over time d. Has lower transaction costs to use as a means of payment than other assets
- "If you were on an island with 10 other people and there were no money, do you think that money would emerge on the sceneExample of money motives?Show a T-account for a bank when you make a deposit of $2000 into your checking account.Assume the reserve ratio is 20%. If the lending process continues as far as it can possibly go, how many deposit dollars will be created from this initial $2000 deposit?
- What would be the first loan in the table if the reserve ratio is 10%? A/Loans 800, total Deposit 800 B/ Loans 1000, total Deposit 1000 C/ Loans 900, total Deposit 1900 D/ Loans 1000, total Deposit 2000Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary. Richie Powers is the owner of American Eagle Boats, a manufacturer of custom pleasure boats. Because of the economic recession and slow boat sales recently, American Eagle has begun accepting promissory notes from its dealers to help finance large orders. This morning American Eagle accepted a 90 day, 8.6% promissory note for $800,000 from one of its sales dealers. You are a manager for a bank, and Richie is one of your clients. Your bank's discount rate is currently 13%. Richie's goal is to discount the note as soon as possible, but not until the proceeds are at least equal to the face value of the note, $800,000. (a) As his banker, Richie has asked you to "run the numbers" at ten day intervals starting with day 20 and advise him as to when he can discount the note and still receive his $800,000. Find the bank discount (in $) for days 20, 30, and 40, and…How is the value of money originally determined? a. By a discount cash flow analysis of the commodity in question b. By whichever asset is decreed by a government as the money of the land c. By using game theory, where market participants appraise how other participants value it d. By its use in the production of other goods, such as when it is used in the production of high-value goods