Exhibit 15-1 Balance sheet of First Iliad State Bank
In Exhibit 15-1, if the required reserve ratio is raised to 15 percent, First Iliad State will have to convert loans worth:
A)$9,000,000 to required reserves.
B)$1,500,000 to required reserves.
C)$500,000 to required reserves.
D)$1,000,000 to required reserves.
E)$450,000 to required reserves.

Question

Exhibit 15-1 Balance sheet of First Iliad State Bank
 In Exhibit 15-1, if the required reserve ratio is raised to 15 percent, First Iliad State will have to convert loans worth:
A)$9,000,000 to required reserves. 
B)$1,500,000 to required reserves. 
C)$500,000 to required reserves. 
D)$1,000,000 to required reserves. 
E)$450,000 to required reserves.

Quizplus · Accepted Answer

The Answer of Exhibit 15-1 Balance sheet of First Iliad State Bank
 In Exhibit 15-1, if the required reserve ratio is raised to 15 percent, First Iliad State will have to convert loans worth:
A)$9,000,000 to required reserves. 
B)$1,500,000 to required reserves. 
C)$500,000 to required reserves. 
D)$1,000,000 to required reserves. 
E)$450,000 to required reserves.

Exhibit 15-1 Balance Sheet of First Iliad State Bank