Stealth bank has deposits of $700 million. It holds reserves of $20 million and has purchased government bonds worth $350 million. The banks loans, if sold at current market value, would be worth $600 million. What is the total value of Stealth bank’s assets?
A. $1.3 billion
B. $1.7 billion
C. $970 million
D. $470 million
Answer:C
Stealth bank has deposits of $700 million. It holds reserves of $20 million and has purchased government bonds worth $350 million. The banks loans, if sold at current market value, would be worth $600 million. What is the total value of Stealth bank’s assets?
A. $1.3 billion B. $1.7 billion C. $970 million D. $470 million
Explanation: Type: Multiple Choice