A bank receives a $10,000 deposit with a 20% reserve ratio. Calculate the required reserve amount.
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- Start with a $1,000 deposit and assume a reserve requirement of 15 percent. Trace the amount of money created by the banking system after five lending cycles.A bank offers a Certificate of Deposit (CD) at a rate of 6% compounded monthly. Another bank offers 5.90% compounded daily. Which rate is better for the investor?Assume that all banks are loaned up and that the reserve requirement is 2%. If you deposit $10,000 in currency into your checking account, what is the change in the MONEY SUPPLY? (Round answers to the nearest whole number, and be careful about signs.)
- A bank pays 5% with daily compounding on its savings accounts. Should it advertisethe nominal or effective rate if it is seeking to attract new deposits?Let us assume that a bank acquired reserves and deposits equal to ₱1,000 with a required reserve of 10% as imposed by the central bank. Solve for the amount of money that the bank can lend, given the reserves that are legally required to support the ₱ 1,000 deposit and the money multiplierAssume internet rate is 2%. If $1602 is put in bank on 5-8-18 and stays in bank earning interest until 3-8-21, how much money is in the bank?
- Cy loans Mookie The Beagle Concierge $1,000 at 6% annual interest. Record the transaction as a loan payable as follows. Required: 1. Complete a Deposit. a. Select (+) New icon > Bank Deposit b. Select Account: 1001 Checking c. Select Date: 01/12/2023 d. In Add Funds to This Deposit section, select Account: + Add New > Account Type: Other Current Liabilities > Detail Type: Loan Payable > Name: Loan Payable> Number: 2300 > Save and Close e. Select Payment Method: Check f. Enter Reference Number: 5002 g. Enter Amount: 1000.00 h. Select Save and close i. What is the Amount of the Loan Payable? Note: Answer this question in the table shown below. Round your answer to the nearest dollar amount. i. Amount of the loan payableYou decide to discount a$5250, 345-day note at 3% to your bank at a discount rate of 4.5% on day 210. What are the proceeds?The first bank advertises a nominal rate of 7.1% compounded semiannually. A second bank advertises a nominal rate of 7% compounded daily. In which bank should you deposit your money? O The first bank. The second bank. O They are the same.
- Cullumber Inc. assigns $4728000 of its accounts receivables as collateral for a $3.30 million loan with a bank. The bank assesses a 3% finance charge on the loan amount and charges interest on the note at 6%. What would be the journal entry to record this transaction? O Debit Cash for $3201000, debit Interest Expense for $99000, and credit Accounts Receivable for $3300000 O Debit Cash for $3003000, debit Interest Expense for $297000, and credit Notes Payable for $3300000 O Debit Cash for $1890800, debit Interest Expense for $99000, debit Due from Bank for $1428000, and credit Accounts Receivable for $4728000 O Debit Cash for $3201000, debit Interest Expense for $99000, and credit Notes Payable for $3300000Suppose you deposit $100 in a bank, which of the following will occur A The bank's assets will increase by $100 B The bank's liabilities will increase by $200 C The bank's liabilities will decrease by $100 D The bank's reserves will increase by $200If a bank has $200,000 of checkable deposits, a required reserve ratio of 20 percent, and it holds $80,000 in reserves, then the maximum deposit outflow it can sustain without altering its balance sheet is A) $50,000. B) $40,000. C) $30,000. D) $25,000. Answer: A How to solve it?
