If the Reserve Requirement Is 15 Percent and a Customer

question 17

Multiple Choice

If the reserve requirement is 15 percent and a customer makes a new cash deposit of $50,000, how much new excess reserves are created?

• A)$7,500
• B)roughly $33,000
• C)$67,500
• D)$42,500
• E)$50,000

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Definitions:

Funded By

Indicating the source of financial resources provided to support a project, initiative, or business venture.

Time By Job Report

A detailed report showing the amount of time spent by employees on specific jobs or tasks.

Management

The process of dealing with or controlling things or people, often within an organization.

Purchase Orders

A purchase order is a document issued by a buyer to a seller indicating types, quantities, and agreed prices for products or services.