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Business, 01.06.2021 05:20 softballlover5
Springfield Bank holds $280 million in total deposits and $40.7 million in total reserves. With a required reserve ratio of 11.5 percent, how much in excess reserves is Springfield Bank holding?
a) $239.3 million
b) $247.8 million
c) $36 million
d) $32.2 million
e) $8.5 million
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Answers: 1
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Springfield Bank holds $280 million in total deposits and $40.7 million in total reserves. With a re...
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