A bank has $10 million in vault cash and $110 million in deposits. If total bank reserves

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A bank has $10 million in vault cash and $110 million in deposits. If total bank reserves were $15 million with $2 million considered to be excess reserves, what required reserves ratio is implied?

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Introduction to Finance Markets, Investments and Financial Management

ISBN: 978-1119398288

16th edition

Authors: Ronald W. Melicher, Edgar A. Norton

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Question Posted: Jun 10, 2019 07:00 AM

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A bank has $10 million in vault cash and $110 million in deposits. If total bank reserves

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Introduction to Finance Markets, Investments and Financial Management

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