online saving account certificate of deposit money withdawning money
I think the most appropriate answer would be C.
I hope it helped you!
Answer:
False
Explanation:
The product specification should include constituent and its proportion in the product. This detail is missing in the statement and hence it is false.
Approved substitutes need not be mentioned on the specification thus corroborating the fallacy of the statement
We write down the equation that would allow us to solve for the required reserves.
required reserve = (deposit)(required reserve ratio)
From the items above, we are given that,
deposit = $5 million
required reserve ratio = 5% = 0.05
Substituting,
required reserve = (0.05)($5 million)
required reserve = $250,000
The total amount that the bank for the reserves is $5.5 million.
The excess reserve is equal to,
excess reserve = ($5.5 M) - ($250,000)
excess reserve = $5.25 M
<em>ANSWER: $5.25M</em>
You can always makeup work that you got a low grade on. You can do extra credit or finish the work you haven’t turned in (if you have anything) :)
