The Oxnard City Bank has $14 million in deposits, $7 million in bonds, $3 million in loans, and $8 million in reserves. What is the Oxnard City bank's net worth in millions of dollars?
The Oxnard City Bank has $14 million in deposits, $7 million in bonds, $3 million in loans, and $8 million in reserves. What is the Oxnard City bank's net worth in millions of dollars?
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 2ST
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The Oxnard City Bank has $14 million in deposits, $7 million in bonds, $3 million in loans, and $8 million in reserves. What is the Oxnard City bank's net worth in millions of dollars?
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