### Bank is required to maintain an average daily balance

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A bank is required to maintain an average daily balance at the Fed of \$600 million. In the first 2 days of the maintenance period, it maintains a balance of \$450 million, the next three days it maintains a balance of \$700 million, the next two days it maintains a balance of \$650 million, the next three days it maintains a balance of \$450 million, and the next three days it maintains a balance of \$650 million. What does its balance at the Fed has to be on the last day of the maintenance period in order to have a zero cumulative reserve deficit? A. \$600 million B. \$400 million C. \$500 million D. \$800 million E. None of the options is correct

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