Refer to the accompanying balance sheet for the First National Bank of Bunco. All ﬁgures are in millions. Suppose that this bank currently has $6 million in excess reserves and that customers of this bank collectively write checks
For cash at the bank in the amount of $6 million. As a result, the bank's excess reserves diminish to
A) $0.
B) $6 million.
C) $0.72 million.
D) $0.84 million.

Question

Refer to the accompanying balance sheet for the First National Bank of Bunco. All ﬁgures are in millions. Suppose that this bank currently has $6 million in excess reserves and that customers of this bank collectively write checks
For cash at the bank in the amount of $6 million. As a result, the bank's excess reserves diminish to
A) $0. 
B) $6 million. 
C) $0.72 million. 
D) $0.84 million.

Quizplus · Accepted Answer

The Answer of  Refer to the accompanying balance sheet for the First National Bank of Bunco. All ﬁgures are in millions. Suppose that this bank currently has $6 million in excess reserves and that customers of this bank collectively write checks
For cash at the bank in the amount of $6 million. As a result, the bank's excess reserves diminish to
A) $0. 
B) $6 million. 
C) $0.72 million. 
D) $0.84 million.

Refer to the Accompanying Balance Sheet for the First National