The reserve requirement is 40%.
<h3>What is the reserve requirement?</h3>
Reserve requirement is the percentage of deposits that is required of commercial banks to keep as reserves with the Central Bank. The reserve requirement is a told that is used by the Central Bank of a country to control the level of money supply in the economy.
The first step is to determine the reserves of the bank.
Reserves = checkable deposits - excess reserves
$5 million - $3million = $2 million
Reserve requirement : (reserves / checkable deposits) x 100
($2 million / $5 million ) x 100 = 40%
To learn more about reserve requirement, please check: brainly.com/question/6831267
#SPJ1
2 donor donated a nonprofit of cash in 65k in June
Answer: What type of nursing?
Answer:
The annual depreciation under straight line method is $3,120
And under double-declining method:
Year 1 = $7,200
Year 2= $6,624
Explanation:
Please find the attached for the calculations
