Westmoreland Bank ends a Wednesday with $4,544,500 in its reserve account. On Thursday its customers deposits $345,660 in checks, and on Friday they deposit S467,845 in checks, both clearing on the day deposited. On Thursday and Friday, $266,890 and $351.115, respectively, in checks written by the bank's customers are cleared. In addition, the Fed picks up 5100,000 in currency on Friday from Westmoreland to return to the Fed's vaults. How much does Westmoreland Bank have in its reserve account at the end of Business on Friday?

A. $3,546,770

B. $4,612,540

C. S5,040,320

D. $4,840,000

Answer rating: 100% (QA)

Calculate the amount in the reserve account at the end of business on Friday Amount Ope... View the full answer