If the reserve requirement is 7 percent, a bank desires to hold no excess reserves, and it receives a new deposit of \( \$ 200 \), it will be able to use this deposit to make new loans amounting to \( \$ 200 \). must increase required reserves by \( \$ 28 \). will initially see reserves decrease by \( \$ 200 \). must increase required reserves by \( \$ 14 \).

What is the likely outcome if your account balance remains constant throughout the month? You are saving consistently. Your spending equals your income. You are facing financial instability. You are investing wisely.

Which of the credit score ranges is considered excellent credit? \( 720-850 \) \( 590-619 \) \( 500-589 \) \( 660-689 \)

Which of the following would NOT be a deduction listed on your paystub at Macy's? Medicare Parking \( 401 k \) Social Security Tax

\( 1 \leftarrow \quad \begin{array}{l}\text { (a) } I=P r t \text { for } r \\ \text { (b) } S=P(1+r t) \text { for } t\end{array} \)

What is one potential disadvantage of using credit for making purchases? purchase items now and pay later possibility of overspending if you do not keep good records higher costs with interest and credit card fees all of the above