Answer:
5%
Explanation:
Deposit= $600 million
Required reserve= $30 million
Required reserve ratio= required Reserve/deposit
= 30 million/600 million
= 0.05×100
= 5%
Hence the required reserve ratio is 5%
Answer:
an associate's degree
Explanation:
An associate's degree is an undergraduate, two-year degree program. The associate degree transposes into the first two years of a bachelor's degree. It intends to equip students with the necessary technical skills and academic knowledge required in the workplace. An associate degree prepares a student for further study in their chosen field.
A bachelor's degree takes four years, while a master's degree requires getting a bachelor's degree first.
Answer:
97 days
Explanation:
In simple interest method, the interest is calculated by the following formula
I= P x R x T
I= interest
P = principal amount
R =interest rate
T= Time
In this case
I=$16
P=$1500$
R= 4% or 0.04%
T= time
$16= $1500 x 0.04 x Time
$16 =60 x Time
Time = 16/60
time = 0.2666 year.
time in days = 0.26666 x 365 days
=97.333 days
=97 days