Tom deposits funds in his savings account at the bank which is paying 3.5% interest. If he keeps his funds in the bank for one year he will have $155.25. What amount is Tom depositing?

A. $151.75
B. $147.50
C. $148.75
D. $150.00

Answer: D

Economics

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If a bank has $6 billion in reserves and loans $2 billion to another bank, then the total quantity of reserves demanded is:

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