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How much excess reserves the bank holds

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Bank has the following balance sheet. Reserves = $760, Loans = $7,800, T-bills = $560, Deposits = $8,000, and Debt = $800. Reserve requirement is 8%. How much excess reserves the bank holds?

  • $120
  • $640
  • $760
  • None of the above

Reference no: EM131355102

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