Question
Use the following assumptions to determine the monthly earnings credit: Ledger Balance = $500,000 Deposit Float = $100,000 Earnings Credit Rate = 0.50% Days in
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Use the following assumptions to determine the monthly earnings credit:
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Ledger Balance = $500,000
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Deposit Float = $100,000
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Earnings Credit Rate = 0.50%
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Days in Month = 30 days
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Reserve Requirement Ratio = 10%
A. $221.92 B. $184.93 C. $147.95 D. $132.87
Use the following assumptions to determine the monthly earnings credit:
Ledger Balance = $500,000
Deposit Float = $100,000
Earnings Credit Rate = 0.50%
Days in Month = 30 days
Reserve Requirement Ratio = 10%
A. $221.92 B. $184.93 C. $147.95 D. $132.87
PLEASE SHOW ALL WORK.
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-0176509736
