Answer:
$2,500; $1,500
Explanation:
Given that,
Total amount invested = $4,000
Let the amount invested at 2% be x,
and the amount invested at 3% be (4,000 - x)
Interest earned = $95
Time period = 1 year
Simple interest = Principle × Interest rate × Time period
$95 = (x × 0.02 × 1) + [(4,000 - x) × 0.03 × 1)
$95 = 0.02x + 120 - 0.03x
$95 = -0.01x + 120
0.01x = 120 - 95
0.01x = 25
x = 2,500
Therefore,
Amount invested at 2% = x = $2,500
Amount invested at 3% = (4,000 - x)
= 4,000 - 2,500
= $1,500
Answer:
$300,000
Explanation:
Money Multiplier = 1 / Required Reserve Ratio
Money Multiplier = 1 / 0.20
Money Multiplier = 5
Reserve requirement will be 20% of $300,000 (Checkable Deposits)
Reserve requirement = $60,000
Excess Reserves = Reserve - Required Reserve
Excess Reserves = $120,000 - $60,000
Excess Reserves = $60,000
Expansion in loans and deposits will be: Excess reserves * money multiplier
= $60,000 * 5
= $300,000
So, if the original bank balance sheet was for the whole commercial banking system rather than a single bank, loans and deposits could have been expanded by a maximum of $300,000.
Answer:
The sum of a tax and a product’s price
Explanation:
The tax final burden increases the price and is payed by consumer.
