Use the Balance Sheet for the Following Questions

question 93

Multiple Choice

Use the balance sheet for the following questions.
Table 29-3

-Refer to Table 29-3.The reserve requirement is 10 percent and then someone deposits an additional $50,000 into the bank,then if the bank takes no other action it will

• A)have $65,000 in excess reserves.
• B)have $55,000 in excess reserves.
• C)need to raise an additional $5,000 of reserves to meet the reserve requirement
• D)None of the above is correct.

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