The Coppock Bank Has $34,000,000 in Deposits

question 162

Multiple Choice

The Coppock Bank has $34,000,000 in deposits.If borrowings are $7,000,000,reserves are $3,500,000,and owner's equity is $2,000,000,what are the bank's total liabilities and net worth?

• A) $46,500,000
• B) $21,500,000
• C) $24,000,000
• D) $43,000,000
• E) $43,500,000

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Definitions:

Calcium

A chemical element with the symbol Ca and atomic number 20, a reactive, pale yellow metal that forms compounds with many other elements.

Ionic Formula

A notation that represents the composition of an ionic compound by showing the ratio of ions present in the compound.

Compound

A substance formed from two or more chemical elements chemically bonded together, with a fixed ratio determining its composition.

Fe2+

Ferrous ion, a form of the iron ion where iron has a valency of +2, commonly involved in redox reactions and an essential part of hemoglobin.