A bank expects to raise $30 million in new money if it pays a deposit rate of 7%. It can raise $60 million in new money if it pays a deposit rate of 7.5%. It can raise $80 million in new money if it pays a deposit rate of 8% and it can raise $100 million in new money if it pays a deposit rate of 8.5%. This bank expects to earn 9% on all money that it receives in new deposits. What deposit rate should the bank offer on its deposits, if they use the marginal cost method of determining deposit rates? 7% 7.5% 8% 8.5% None of the above A bank expects to raise $20 million in new money if it pays a deposit rate of 7%. It can raise $60 million in new money if it pays a deposit rate of 7.5%. It can raise $100 million in new money if it pays a deposit rate of 8% and it can raise $120 in new money if it pays a deposit rate of 8.5%. This bank expects to earn 9.5% on all money that it receives in new deposits. What is the marginal cost of deposits if this bank raises their deposit rate from 7.5% to 8%? 11% 8.75% 7.75% 7% .5% A customer has a savings deposit for 15 days. During that time they earn $15 and have an average daily balance of $2200 What is the annual percentage yield on this savings account? .68% 16.36% 16.59% 17.98% None of the above The Shirley State Bank has $90 in transaction deposits subject to legal reserves. This bank must hold 3 percent legal reserves up to $43.9 of transaction deposits and 10 percent legal reserves on any amount above this. What is this bank's total legal reserve requirement? $2.700 million $1.449 million $5.927 million $4.170 million None of the above