The B&L Bank has $120 million in deposits, a 15 percent reserve requirement, and $24 million in actual reserves. How much does B&L have in excess reserves?
A) $6 million.
B) $18 million.
C) $96 million.
D) $102 million.
Correct Answer:
Verified
Q30: A financial depository institution's required reserves are:
A)
Q31: Excess reserves are equal to:
A) actual reserves
Q32: Excess reserves:
A) equal actual reserves minus required
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