If a bank has $30,000,000 in deposits, excess reserves of $2,000,000, and required reserves of $1,500,000, Instructions: In Part a, round your response (in millions) to one decimal place. In Part b, enter your response as a whole number. a. what are its total reserves?
If a bank has $30,000,000 in deposits, excess reserves of $2,000,000, and required reserves of $1,500,000, Instructions: In Part a, round your response (in millions) to one decimal place. In Part b, enter your response as a whole number. a. what are its total reserves?
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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