Assume a bank has $5 million in deposit and $1 million in vault cash.
Prof.Hashmi (Not rated)
(Not rated)
1. Assume a bank has $5 million in deposit and $1 million in vault cash.If the bank holds $1 million in excess reserves and the required reserves ratio is 8%, what level of deposits are being held?
- 8 years ago
A+ & Plagiarism free work
NOT RATED
Purchase the answer to view it
- ans.xlsx