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Question
Reserve requirements for banks are currently:Amount of Bank's Requirement
Transaction Deposits Reserve
The first $6.6 million 0 percent
Amounts from $6.6 to $45.4 million 3 percent
Amounts over $45.4 million 10 percent
Calculate the reserve requirements for three banks with the following amounts of transaction deposits.
a. $38.8 million
b. $95.6 million
c. $3,400 million
Answer
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