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Bank A has checkable deposits of $10 million and total reserves of $1 million. The required reserve ratio is 9 percent. The bank has required reserves of Group of answer choices $90,000. $1,000,000. There is not enough information provided to answer this question. $900,000. $910,000.

Respuesta :

Answer: $900000

Explanation:

The following can be deduced from the information given:

Checkable Deposits = $10 million

Total Reserves = $1 million

Required Reserve Ratio = 9%

Required reserves will be:

= required reserve ratio × checkable deposits

= 9% × $10 million

= 0.09 × $10 million

= $900,000.

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