Table 10-4
The following information pertains to the Bank of Moncton.
-Refer to the Table 10-4.If the Bank of Canada requires a reserve ratio of 4 percent,how much in excess reserves does the Bank of Moncton now hold?
A) $1200
B) $1400
C) $2880
D) $3000

Question

Table 10-4
The following information pertains to the Bank of Moncton. 
-Refer to the Table 10-4.If the Bank of Canada requires a reserve ratio of 4 percent,how much in excess reserves does the Bank of Moncton now hold?
A) $1200 
B) $1400 
C) $2880 
D) $3000

Quizplus · Accepted Answer

The Answer of Table 10-4
The following information pertains to the Bank of Moncton. 
-Refer to the Table 10-4.If the Bank of Canada requires a reserve ratio of 4 percent,how much in excess reserves does the Bank of Moncton now hold?
A) $1200 
B) $1400 
C) $2880 
D) $3000

Table 10-4 The Following Information Pertains to the Bank of Moncton