Refer to the table below. If a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are:…

Refer to the table below. If a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are:

checkable depositsreserve requirements7.8-48.3 million3%over 48.3 million10%noncheckable personal savings and time deposits0

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