A Bank Has an Average Balance of Transactions Accounts, August

question 6

Multiple Choice

A bank has an average balance of transactions accounts, August 10 to 23, of $824.46 million.The average balance in the cash account is $42.014 million over this period.The bank is carrying forward a deficit of $1.276 million from the last reserve period.The rules require no reserves to be maintained for the first $8.5 million, 3 percent for amounts between $8.5 million and $45.8 million, and 10 percent thereafter. The maximum reserves that will count toward the next reserve maintenance period, September 23 to October 6, is

• A)$44.565 million.
• B)$42.406 million.
• C)$45.565 million.
• D)$40.406 million.
• E)$41.406 million.

---

Definitions:

New and Useful Machine

An invention that offers a novel and functional solution or improvement to a particular problem or need.

Scientific Principle

A fundamental concept or law that guides scientific work and is widely accepted as true based on evidence.

Innovation

The introduction of something new, such as an idea, method, or device.

Artistic Work

Creations by artists, such as paintings, sculptures, music, and literature, often protected by copyright laws.