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QUESTION
Assume that the first state bank of chicago requires a 20 percent compensating balance on short-term loans. if you borrow $50,000, at least ____ of the loan amount must be kept on deposit at the bank.
Assume that the first state bank of chicago requires a 20 percent compensating balance on short-term loans. if you borrow $50,000, at least ____ of the loan amount must be kept on deposit at the bank.
a. $10,000
b. $20,000
c. $4,000
d. $1,000
e. $50,000
