Suppose that the reserve ratio is 6 percent, and applies only to checkable deposits.A bank has noncheckable time deposits of $300 million, checkable deposits of $100 million, and reserves of $8 million.What are the excess reserves of this bank?
A)$5.6 million
B)$6 million
C)$2 million
D)$2.4 million

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The Answer of Suppose that the reserve ratio is 6 percent, and applies only to checkable deposits.A bank has noncheckable time deposits of $300 million, checkable deposits of $100 million, and reserves of $8 million.What are the excess reserves of this bank?
A)$5.6 million
B)$6 million
C)$2 million
D)$2.4 million

Suppose That the Reserve Ratio Is 6 Percent, and Applies