Answer: It has 1 milion dollars in required reserves
Explanation:
Tot. Res = Vault cash + Deposit with Federal Reserve
Tot. Res = 2 million dollars + 8 million dollars = 10 million dollars
Total reserves are the sum of excess reserves and required reserves
.
Tot. Res. = Exce. Res. + Req. Res.
10 million dollars = 9 million dollars = Req. Res.
Req. Res. = 10 million dollars- 9 million dollars.
Req. Res. = 1 million dollars.
There are video tutorials online. It might be a lot easier to understand it if you see it, rather than read it. Hope this helps! :)
You enforce the rules, state you did correctly count the amount of money, no exceptions.
To answer the question above as to which type of life insurance policy combines term insurance and investment elements is letter C, Universal Life. Universal Life or in other term Permanent life Insurance is a type of insurance to which is flexible low-cost protection and term life insurance as well as the saving elements like the whole life insurance.