Suppose a new customer adds $100 to his account at North Central National Bank, which the owners of the bank then use to make $100 worth of new loans. This would increase the loans account and the account.
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- bank deposit is limited byFrank forges the signature of his father on a cheque and draws $5,000 from the account. Examine the legal position of the paying bank.Suppose on your 21st birthday, your eccentric grandmother invites you to her house, takes you into her library, removes a black velvet painting of Elvis Presley from the wall, opens a hidden safe where she removes 50 crisp $100 bills, and hands them to you as a present, claiming you are her favorite grandchild. After thanking your grandmother profusely (and helping her rehang the picture of Elvis), you proceed to your bank and deposit half of your gift in your checking account and half in your savings account. How will these transactions affect M1 and M2? How will these transactions change M1 and M2 in the short run? What about the long run?”
- Your friend Tim wants to open a checking account, but he's not sure how to do it. Explain the process from start to finish.Diane initially deposited $10,500 into a money market account and made no additional deposits or withdrawals. When she closed the account in exactly one year, its value had grown to $10,900. Calculate the annual growth rate for the money market account. Round your answer to two places after the decimal.At the end of the month, you have only $20 left in your checking account. You deposit your $200 paycheck from your part-time waltressing job, but the restaurant is not doing well and your paycheck bounces. Your bank holds you accountable and charges you $54 for depositing a bad check. What is the balance of your checking account after attempting to deposit your bad paycheck? (Negative amount should be indicated by a minus sign.) Balance of checking account.
- Your friend Tim wants to open a checking account, but he's not sure how to do it. List the steps.Your merchant fee is 2%. Your customers paid you $120,000 through credit cards. What fee must you pay the credit card company? 2$ $ [?]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 2000
- money is a concept has a certain value at a point in time. true or falseYesterday, I was given $250. as the answer, I got it wrong. Please credit my account for this wrong answer. $250. is not correct answer.A cash item in the process of collection is a U.S. Treasury bill that has matured, but for which the bank has not yet received payment a car loan payment that is due but not yet received by the bank. a check drawn against another bank, from whom the funds have not yet been collected. currency that has been deposited in the bank, but not yet formally counted and entered into the bank's balance sheet.