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.

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.

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.

Exhibit 15-1 Balance Sheet of First Iliad State Bank