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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 currently maintains a 30% reserve, what amount of reserves would the bank need if it met the reserve requirements exactly?
a. $200,000
b. $100,000
c. $300,000
d. $1,000,000
e. None of the above.
Answer
This answer is hidden. It contains 102 characters.
Related questions
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Q:
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