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dexar [7]
3 years ago
9

The Megabux National Bank currently has deposits of $200 million. If the Fed establishes a reserve requirement of 12 percent, Me

gabux National must hold reserves of _______ against its deposits.A. $12 million B. $24 million C. $176 million D. $200 million
Business
1 answer:
scoundrel [369]3 years ago
5 0

Answer:

Option (B) is correct.

Explanation:

Given that,

Megabux National Bank currently has deposits = $200 million

Fed establishes a reserve requirement = 12 percent

Therefore,

Reserves must be hold by the Megabux national bank against its deposits:

= Amount of Deposits × Required reserve ratio

= $200 million × 12 percent

= $200 million × 0.12

= $24 million

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3 years ago
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