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What the bank required reserves are

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Reference no: EM132717815

Problem 1: A bank has $770 million in checkable deposits. The bank has $85 million in reserves. The bank's required reserves are ________ and its excess reserves are ________.

A.$77 million; $8 million
B.$89 million; $21 million
C. $85 million; $0
D.$770 million; $85 million
E.$685 million; $8.5 million

Reference no: EM132717815

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