Finance 64 Online
OpenStudy (anonymous):

A small state bank currently has reserves equal to \$300,000. If the state reserve requirement is 20%, but the bank currently maintains a 30% reserve, how much are the excess reserves the bank currently a. \$200,000 b. \$100,000 c. \$300,000 d. \$500,000 e. None of the above.

OpenStudy (anonymous):

30%=\$300000 what about the certified 20% (20*300000)/30=200000 therefore the excess in reserves amounts to 300000-200000=100000 ans b.

OpenStudy (matthewrlee):

Withdrawn you're money from that bank and open a new account somewhere else. If they only have \$300,000 in reserves they are about go out of business.

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