The reserve requirement is 0 percent on the first $8 million in transaction deposits, 3 percent on amounts between $8 million and $50 million, and 10 percent on amounts above $50 million. A bank with transaction deposits totaling $83 million has required reserves equal to
A. $2.49 million.
B. $4.56 million.
C. $6.54 million.
D. $8.30 million.
Answer: B
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A matrix organization is:
a. Based on the movie The Matrix b. Modelled on a beehive c. Not what it seems d. None of the above
On January 31, a company needed to estimate its ending inventory to prepare its monthly financial statements. The following information is currently available:Inventory as of January 1: $120,500Net sales for January: $400,000Net purchases for January: $270,500This company typically achieves a gross profit ratio of 15%. Ending Inventory under the gross profit method would be:
A. $10,425. B. $51,425. C. $102,425. D. $51,000. E. $9,000.
R. Edward Freeman is a proponent of the stakeholder theory of the corporation
Indicate whether the statement is true or false
Which of the following are institutional banks that provide financial support and professional advice for developing countries?
A) multilateral development banks B) central banks C) investment banks D) Barclays bank