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What required reserves ratio is implied

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Reference no: EM132949917

Problem 1: 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?

Option 1: 11.8%

Option 2: 15.0%

Option 3: 13.0%

Option 4: 13.6%

Reference no: EM132949917

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