Stealth bank has deposits of $600 million. It holds reserves of $30 million and government bonds worth $80 million. If the bank sells its loans at market value of $400 million, what will its total assets equal?
A. $110 million
B. $710 million
C. $480 million
D. $510 million
Answer:D
Stealth bank has deposits of $600 million. It holds reserves of $30 million and government bonds worth $80 million. If the bank sells its loans at market value of $400 million, what will its total assets equal?
A. $110 million B. $710 million C. $480 million D. $510 million
Explanation: Type: Multiple Choice