(Answered) Suppose that to finance its credit policy the fed pays an

Management Studies

Suppose that to finance its credit? policy, the Fed pays an annual interest rate of 0.15 percent on bank reserves. During the course of the current? year, banks hold ?$1.4 trillion in reserves.

What is the total amount of interest the Fed pays banks during the? year?

The Fed pays banks ?$ nothing billion of interest during the year. ?(Enter your response rounded to two decimal? places.)

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