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Clearview bank maintains a clearing balance of $7,000,000 with the Federal Reserve. The Federal funds rate is currently 2.15 percent. What credit will this bank

Clearview bank maintains a clearing balance of $7,000,000 with the Federal Reserve. The Federal funds rate is currently 2.15 percent. What credit will this bank earn over the reserve maintenance period to offset any fees charged this bank by the Federal Reserve?

Answer: $__________ (two decimal points)

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