Refer to the accompanying balance sheet for the First National Bank of Bunco. All ﬁgures are in millions. If this bank has excess reserves of $6 million, the legal reserve ratio must be
A) 10 percent.
B) 12 percent.
C) 14 percent.
D) 20 percent.

Question

Refer to the accompanying balance sheet for the First National Bank of Bunco. All ﬁgures are in millions. If this bank has excess reserves of $6 million, the legal reserve ratio must be
A) 10 percent. 
B) 12 percent. 
C) 14 percent. 
D) 20 percent.

Quizplus · Accepted Answer

The Answer of  Refer to the accompanying balance sheet for the First National Bank of Bunco. All ﬁgures are in millions. If this bank has excess reserves of $6 million, the legal reserve ratio must be
A) 10 percent. 
B) 12 percent. 
C) 14 percent. 
D) 20 percent.

Refer to the Accompanying Balance Sheet for the First National