Three Times a Number Is 10 Less Than Five Times

question 81

Short Answer

Three times a number is 10 less than five times the number. Find the number.

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Definitions:

M2

A measure of the money supply that includes cash, checking deposits, and easily convertible near money, such as savings deposits, small time deposits, and money market mutual funds.

M3

A measure of the money supply that includes M2 plus large time deposits, institutional money market funds, and other larger liquid assets.

Reserve Ratio

The fraction of deposits that banks are required to hold in reserve and not lend out, aimed at controlling the money supply and banking stability.

M3

A measure of the money supply that includes M2 (cash, checking deposits, savings deposits, money market securities) plus large time deposits, institutional money market funds, and other large liquid assets.