A Bank Has an Average Balance of Transactions Accounts,August 10

question 50

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.

If over the first 12 days of the current reserve maintenance period the average daily reserve held were $37 million,what does the bank need to hold as reserves over the last two days to exactly meet the reserve requirement?

• A)$86.42 million.
• B)$91.46 million.
• C)$79.63 million.
• D)$99.14 million.

---

Definitions:

Standard Reading Instruction

Traditional methods of teaching reading that typically focus on phonics, vocabulary, and comprehension skills, often in a structured and systematic manner.

Student-guided

An educational approach where learners have substantial control over the course of their learning process, often emphasizing exploration and self-directed activities.

Teacher-led Discussion

An educational technique where the teacher guides the conversation, presenting topics and directing the flow of dialog among students.

Top-down Processing

A cognitive process that starts with the formation of conceptual understanding based on overall expectations and knowledge before discerning the details.