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Question
A small state bank currently has reserves equal to $300,000. If the state reserve requirement is 20%, but the bank feels more comfortable with maintaining a 30% reserve, what amount of deposits does the bank currently have?
a. $1,500,000
b. $600,000
c. $1,000,000
d. $300,000
e. None of the above.
Answer
This answer is hidden. It contains 48 characters.
Related questions
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