John deposits $3,000 into his checking account. If the reserve ratio is 15%, what are the required and excess reserves? Required reserves: $ Excess reserves: $ keep a portion of it and lend out the rest. keep every penny as vault cash since it is such a small amount. lend out every penny since almost all transactions are digital.
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- To deposit and withdraw funds from linked bank accounts, which system call will be used? Withdraw your fundsFrank forges the signature of his father on a cheque and draws $5,000 from the account. Examine the legal position of the paying bank.Debit cards allow an individual to transfer funds directly in a checkable account to a merchant without writing a check. How is this different from the way credit cards work? Are either credit cards or debit cards money? Explain.
- An advantage that money has over other assets is that it: a. Provides a higher return to the owner b. Is a safer asset to hold during times of inflation c. Increases in value over time d. Has lower transaction costs to use as a means of payment than other assetsExplain in no more than 5 sentences. Why is there is a need to follow certain financial precautions when writing cheques?What is the primary function of money. Explain in detail . No plagiarism allowed. Thankyou
- First National Bank Liabilities and Net Worth Assets US Treasury Bonds $450,000 Net Worth $500,000 Reserves (Cash) $175,000 Checkable Deposits $250,000 Loans $125,000 Second National Bank Assets Liabilities and Net Worth US Treasury Bonds $100,000 Net Worth $250,000 Reserves (Cash) $250,000 Checkable Deposits $100,000 Third National Bank Assets Liabilities and Net Worth US Treasury Bonds $900,000 Net Worth $1,000,000 Reserves (Cash) $350,000 Checkable Deposits $500,000 Loans $250,000 The Required Reserve Ratio is 25% for all banks. Rob, who banks at Third National, writes a check in the amount of $100,000 to Darrin, a First National customer, who deposits the check in-full into his checking account. List which balance sheet entries at each bank change and what their new values are.First National Bank Assets Liabilities and Net Worth US Treasury Bonds $450,000 Net Worth $500,000 Reserves (Cash) $175,000 Checkable Deposits $250,000 Loans $125,000 Second National Bank Assets Liabilities and Net Worth US Treasury Bonds $100,000 Net Worth $250,000 Reserves (Cash) $250,000 Checkable Deposits $100,000 Third National Bank Liabilities and Net Worth Assets US Treasury Bonds $900,000 Net Worth $1,000,000 Reserves (Cash) $350,000 Checkable Deposits $500,000 Loans $250,000 The required reserve ratio is 25% for all banks. Second National Bank is capable of loaning $ (Do NOT enter the '$' in your response. Enter a whole dollar amount; do NOT enter cents.) to its customers. Blank 1First National Bank Assets Liabilities and Net Worth US Treasury Bonds $450,000 Net Worth $500,000 Reserves (Cash) $175,000 Checkable Deposits $250,000 Loans $125,000 Second National Bank Assets Liabilities and Net Worth US Treasury Bonds $100,000 Net Worth $250,000 Reserves (Cash) $250,000 Checkable Deposits $100,000 Third National Bank Assets Liabilities and Net Worth US Treasury Bonds $900,000 Net Worth $1,000,000 Reserves (Cash) $350,000 Checkable Deposits $500,000 Loans $250,000 The required reserve ratio is 25% for all banks. Second National Bank is capable of loaning $____________ (Do NOT enter the '$' in your response. Enter a whole dollar amount; do NOT enter cents.) to its customers.