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The Shirley State Bank has $90 million in transaction deposits subject to legal reserves. The bank must hold 3 percent legal reserves up to $43.9

The Shirley State Bank has $90 million in transaction deposits subject to legal reserves. The bank must hold 3 percent legal reserves up to $43.9 million of transaction deposits and 10 percent legal reserves on any amount
above this.
What is the bank's total legal reserve requirement?
image text in transcribed
QUESTION 16 1 points Save Ana The Shirley State Bork has 500 milion in transaction deposits subject to legal resorves. The bank must hold 3 percent legal reserves up to $43.9 million of transaction deposits and 10 percent legal reserves on any amount above thes What is the bank's total legal reserve requirement? For the toolbar press ALT+F10 PC) or ALT-EN-F10 (Mac) tot

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