Question: I cannot figure out how to get the required reserves ratio, can you please help me with this problem? Current Attempt in Progress A new

I cannot figure out how to get the required reserves ratio, can you please help me with this problem?

you please help me with this problem? Current Attempt in Progress A

Current Attempt in Progress A new bank has vault cash of $10 million and $5 million in deposits held at its Federal Reserve District Bank, (a) Your answer is correct. If the required reserves ratio is 8 percent, approximately what dollar amount of deposits can the bank hold? (Answer in millions) Bank deposits s 75 million eTextbook and Media Attempts: 1 of 2 used (6) b (b) * Your answer is incorrect. If the bank holds $74 million in deposits and currently holds bank reserves such that excess reserves are zero, what required reserves ratio is implied? (Round answer to 1 decimal place, eg. 5.1.) Required reserves ratio 811 e Textbook and Media Save for Later Attempts: 1 of 2 used Submit

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