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wel
2 years ago
8

Let’s suppose that a bank has $600 million in total deposits. This bank is subject to a 20% required reserve ratio and has $100

million in reserves. Which of the following statements is correct?
Choose one:
A. The bank has insufficient reserves. It needs an additional $20 million to meet the reserve requirement.
B. The bank has no excess reserves.
C. The bank has insufficient reserves. It needs an additional $480 million to meet the reserve requirement.
D. The bank has $20 million in excess reserves.
E. The bank has $100 million in excess reserves.

Business
1 answer:
Ludmilka [50]2 years ago
3 0

Answer

The answer and procedures of the exercise are attached in the image.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

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