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A company uses services with charges that total $10,000 per month. The earnings credit rate is 5%. The reserve requirement is 10%. Assuming a 30-day

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A company uses services with charges that total $10,000 per month. The earnings credit rate is 5%. The reserve requirement is 10%. Assuming a 30-day month average collected balances required to compensate the financial institution for the services. What is the collected balance required

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