Question
Consider a bank policy to maintain 24% of deposits as reserves. The bank currently has $20 million in deposits and holds $800,000 in excess reserves.
Consider a bank policy to maintain 24% of deposits as reserves. The bank currently has
$20 million in deposits and holds $800,000 in excess reserves. What is the required
reserve on a new deposit of $100,000?
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A Textbook Of Mathematical Economics
Authors: Dr Chandrakant Singh
1st Edition
9353140986, 9789353140984
