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26 July, 14:36

Suppose that the reserve ratio is 6%, and applies only to checkable deposits. a bank has non-checkable time deposits of $300 million, checkable deposits of $100 million, and reserves of $8 million. what are the excess reserves of this bank? $5.6 million

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  1. 26 July, 14:50
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    I think the answer is 2 million
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