Green bank has transaction accounts worth $200 million.If the required reserve ratio is 10%, Green bank holds_____ as required reserves.

Name: Green bank has transaction accounts worth $200 million.If the required reserve ratio is 10%, Green bank holds_____ as required reserves.
Brand: Quizplus
Rating: 4.8 (51 reviews)

Question

Quizplus · Accepted Answer

The required reserves are calculated as the required reserve ratio (10%) multiplied by the total amount in transaction accounts ($200 million), which equals $20 million.

Green Bank Has Transaction Accounts Worth $200 Million