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A bank has checkable deposits of​ $1,000,000, loans of​ $600,000, and government securities of​ $400,000. If the required reserve ratio is 5​ percent, the amount of required reserves is A. ​$20,000. B.
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A bank has checkable deposits of​ $1,000,000, loans of​ $600,000, and government securities of​ $400,000. If the required reserve ratio is 5​ percent, the amount of required reserves is A. ​$20,000. B. ​$50,000. C. ​$80,000. D. ​$30,000. E. ​$100,000.

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Answer:

$30,000

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