You have been given the following information: Total reserve=$1.3 million Loans=

Question

You have been given the following information: Total reserve=$1.3 million Loans=$5.2 million Required reserved=$585,000 Calculate total deposits. You have been given the following information: Total reserve=$1.3 million Loans=$5.2 million Required reserved=$585,000 Calculate total deposits. You have been given the following information: Total reserve=$1.3 million Loans=$5.2 million Required reserved=$585,000 Calculate total deposits. Total reserve=$1.3 million Loans=$5.2 million Required reserved=$585,000 Calculate total deposits.

Explanation / Answer

- Please note that required reserve is the reserve as % of Total demand deposits which is required to be maintained. Total reserve is made up of required reserve and excess reserve

- Total Reserves and Loans both are part of Assets which totals up to $6.8 million (1.3 +5.2).

- Total Deposits are Liabilities. So, the liabilites side total would also be $6.8 million.

Total deposits = $6.8 million

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