If the reserve requirement is 10 percent, what amount of excess reserves does a bank acquire when a business deposits a $500 check drawn on another bank?

A. $450
B. $400
C. $5,000
D. $550

Question

07-06-2024
Mathematics

Answered

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If the reserve requirement is 10 percent, what amount of excess reserves does a bank acquire when a business deposits a $500 check drawn on another bank?

A. $450
B. $400
C. $5,000
D. $550

Sagot :

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