Solve the Problem. -If May Is Your Starting Month, What Month Will It

question 142

Multiple Choice

Solve the problem.
-If May is your starting month, what month will it be 36 months from May?

• A) April
• B) June
• C) May
• D) October

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Definitions:

Checkable Deposits

Bank account balances that are readily available for withdrawal and can be used for making payments, such as in checking accounts.

U.S. Treasury Deposits

Funds held at the Federal Reserve that belong to the U.S. Treasury, often from revenues or borrowing, used for government spending.

Certificates of Deposit

Savings certificates with a fixed maturity date, specified fixed interest rate and can be issued in any denomination aside from minimum investment requirements.

Required Reserve Ratio

The fraction of deposits that regulators require a bank to hold in reserves and not lend out.