Assume that the required reserve ratio is 5 percent.If a commercial bank has $2 million cash in its vault, $1 million in government securities, $3 million on deposit at the Fed, and $60 million in checkable deposits, then its excess reserves equal
A)$0 million.
B)$2 million.
C)$5 million.
D)$6 million.

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The Answer of Assume that the required reserve ratio is 5 percent.If a commercial bank has $2 million cash in its vault, $1 million in government securities, $3 million on deposit at the Fed, and $60 million in checkable deposits, then its excess reserves equal
A)$0 million.
B)$2 million.
C)$5 million.
D)$6 million.

Assume That the Required Reserve Ratio Is 5 Percent