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.
-What is the gross reserve requirement?

• A)$74.653 million.
• B)$78.985 million.
• C)$76.747 million.
• D)$72.461 million.
• E)$77.866 million.

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Learn the registration process and legal structures for protecting intellectual property and business operations.

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Definitions:

Conducting

involves directing or leading a group, especially in the context of music where a conductor leads an orchestra or choir.

Formulating Strategy

The process of creating strategies to achieve specific organizational objectives.

Competitive Strategies

Approaches that organizations use to gain a competitive edge in the market, often through innovation, quality, cost leadership, or customer focus.

Michael Porter

An economist and professor renowned for his theories on economics, business strategy, and social causes.