Refer to the table above. If a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are:
A) $30 million
B) $3 million
C) $1.8 million
D) $1.2 million

Question

Refer to the table above. If a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are:
A) $30 million 
B) $3 million 
C) $1.8 million 
D) $1.2 million

Quizplus · Accepted Answer

The Answer of  Refer to the table above. If a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are:
A) $30 million 
B) $3 million 
C) $1.8 million 
D) $1.2 million

Refer to the Table Above