1st generic bank receives new demand deposits of 18 million, Ask an Expert

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1st Generic Bank receives new demand deposits of $1.8 million. Their current reserve requirement is 6%. 1st Generic has $90,000 in vault cash and $100,000 at the the Federal Reserve that has not been invested yet. How much does the bank have available in excess reserves to make loans? (show work for full credit)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92095035

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