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What required reserves ratio is implied

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Question - 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?

a. 11.8%

b. 15.0%

c. 13.0%

d. 13.6%

Reference no: EM133024246

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