Meramec Bank has $30 million in deposits, a 20% reserve requirement, and $10 million in actual reserves. How much must Meramec Bank keep in required reserves?
A) $30 million.
B) $24 million.
C) $10 million.
D) $ 6 million.

Name: Meramec Bank has $30 million in deposits, a 20% reserve requirement, and $10 million in actual reserves. How much must Meramec Bank keep in required reserves? A) $30 million. B) $24 million. C) $10 million. D) $ 6 million.
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Question

Quizplus · Accepted Answer

($30 million x .20)

Meramec Bank Has $30 Million in Deposits, a 20% Reserve