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A bank must maintain an average daily balance at the Fed of-(Answered)

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A bank must maintain an average daily balance at the Fed of $700.On the first day of themaintenance period they maintain a balance of $750, the next two days they maintain abalance of $725, the next three days they maintain a balance of $625, the next two daysthey maintain a balance of $775, the next two days they maintain a balance of $700 and thenext two days they maintain a balance of $675.What does their balance have to be on the last day of the maintenance period in order to have a cumulative reserve deficit?


 

Paper#9257284 | Written in 27-Jul-2016

Price : $16
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