Reserve requirements for banks are currently:
$$\begin{array} { l l }
\text { Amount of Bank's } & \text { Reserve } \
\text { Transaction Deposits } & \text { Requirement } \
\text { The first \$6.6 million } & 0 \text { percent } \
\text { Amounts from \$6.6 to \$45.4 million } & 3 \text { percent } \
\text { Amounts over \$45.4 million } & 10 \text { percent }
\end{array}$$
Calculate the reserve requirements for three banks with the following amounts of transaction deposits.
a.$38.8 million
b.$95.6 million
c.$3,400 million

Question

Reserve requirements for banks are currently:
$$\begin{array} { l l } 
\text { Amount of Bank's } & \text { Reserve } \
\text { Transaction Deposits } & \text { Requirement } \
\text { The first \$6.6 million } & 0 \text { percent } \
\text { Amounts from \$6.6 to \$45.4 million } & 3 \text { percent } \
\text { Amounts over \$45.4 million } & 10 \text { percent }
\end{array}$$ 
Calculate the reserve requirements for three banks with the following amounts of transaction deposits.
a.$38.8 million
b.$95.6 million
c.$3,400 million

Quizplus · Accepted Answer

The Answer of Reserve requirements for banks are currently:
$$\begin{array} { l l } 
\text { Amount of Bank's } & \text { Reserve } \
\text { Transaction Deposits } & \text { Requirement } \
\text { The first \$6.6 million } & 0 \text { percent } \
\text { Amounts from \$6.6 to \$45.4 million } & 3 \text { percent } \
\text { Amounts over \$45.4 million } & 10 \text { percent }
\end{array}$$ 
Calculate the reserve requirements for three banks with the following amounts of transaction deposits.
a.$38.8 million
b.$95.6 million
c.$3,400 million

Reserve Requirements for Banks Are Currently Calculate the Reserve Requirements for Three Banks with the Following