Stealth Bank has deposits of $700 million. It holds reserves of $70 million and has purchased government bonds worth $215 millio
n. The bank's loans have a market value of $490 million. What does Stealth Bank's net worth, or equity capital, equal?
1 answer:
Answer:
$75 million
Step-by-step explanation:
Given that:
Reserve value = $70 million
Purchased government bond = 215 million
Market value of loan = $490 million
Net worth :
Assets - liability
Assets = (Market value of loan + purchased government bond + reserve value)
(490 million + 215 million + 70 million)
275 million + 70 million
= $775 million
Liability = Deposits = $700 million
Net worth = ($775 - $700) million
Net worth = $75 million
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