Question
A new bank has vault cash of $1.7 million and $4 million in deposits held at its Federal Reserve District Bank. Collapse question part (a)
A new bank has vault cash of $1.7 million and $4 million in deposits held at its Federal Reserve District Bank.
Collapse question part (a) If the required reserves ratio is 9 percent, what dollar amount of deposits can the bank have? (Round answer to 0 decimal places, e.g. 150.)
Bank deposits ????? $ million
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Cornerstones of Financial and Managerial Accounting
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
2nd edition
978-1111879044
