Refer to the accompanying balance sheet for the First National Bank. Assume the reserve ratio is 15 percent. If a check for $20,000 is drawn and cleared against this bank, it will then have excess reserves of
A) $15,000.
B) $20,000.
C) $25,000.
D) $30,000.

Question

Refer to the accompanying balance sheet for the First National Bank. Assume the reserve ratio is 15 percent. If a check for $20,000 is drawn and cleared against this bank, it will then have excess reserves of
A) $15,000. 
B) $20,000. 
C) $25,000. 
D) $30,000.

Quizplus · Accepted Answer

The Answer of  Refer to the accompanying balance sheet for the First National Bank. Assume the reserve ratio is 15 percent. If a check for $20,000 is drawn and cleared against this bank, it will then have excess reserves of
A) $15,000. 
B) $20,000. 
C) $25,000. 
D) $30,000.

Refer to the Accompanying Balance Sheet for the First National