Sara withdraws $1,000 from her savings account at the lucky s&l, keeps $50 in cash, and deposits the balance in her checking account at the bank of illinois. What is the immediate change in m1 and m2?.

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30-11-2022
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Sara withdraws $1,000 from her savings account at the lucky s&l, keeps $50 in cash, and deposits the balance in her checking account at the bank of illinois. What is the immediate change in m1 and m2?.

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Tutorconsortium410 Tutorconsortium410 · Answer 1 · 2022-12-02T21:02:14+01:00

There will be a increase in m1 and no change in m2 when Sara withdraws $1,000 from her savings account at the lucky s&l, keeps $50 in cash, and deposits the balance in her checking account at the bank.

What functions do banks have?

It is a bank's responsibility to collect public deposits and lend those deposits to support the expansion of business, trade, industry, and agriculture. Bank receives higher rates of interest from depositors on loans and advances than it does on deposits.

How are banks able to make money?

Like any other profit-driven business, banks charge for the financial goods and services they provide. The two main products that make banks profitable are interest on loans and service fees.

To know more about Banks visit:

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Sara withdraws​ $1,000 from her savings account at the lucky​ s&l, keeps​ $50 in​ cash, and deposits the balance in her checking account at the bank of illinois. What is the immediate change in m1 and​ m2?.

Respuesta :

What functions do banks have?

How are banks able to make money?

Otras preguntas

Sara withdraws $1,000 from her savings account at the lucky s&l, keeps $50 in cash, and deposits the balance in her checking account at the bank of illinois. What is the immediate change in m1 and m2?.