Answer: $332.1
Step-by-step explanation:
Given that,
Monthly collected balance = $600,000
Bank pays an earning credit rate = 0.75%
Reserve Requirement Ratio = 10% of $600,000
= $60,000
Investable amount = Monthly collected balance - Reserve requirement amount
= $600,000 - $60,000
= $540,000
ABC's monthly earnings credit:
= Investable amount × Earning credit rate × Time period
= 540,000 × 0.75% ×

= $332.1