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13-04-2021
Business

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Bank 1 has deposits of $4,514 and reserves of $789. If the required reserve ratio is 10%, what is the value of the bank's required reserves

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14-04-2021

Answer:

Required Reserves = 451.4 $

Explanation:

Required reserves ratio can be calculated by the following equation

Required Reserves = Required Reserve Ratio × Deposits

Required Reserves = 0.10 x 4514

Required Reserves = 451.4 $

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