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XYZ Company is a net borrower. Its cost of funds is 5.0%, its earnings credit rate is 3.0%, and the reserve requirement is 10%. Average service fees are $50,000 per month. Its average ledger balance is $2,000,000, and its average collected balance is $1,000,000. What are the collected balances required to pay for services during a 30-day month?
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B. $20,277,778
C. $12,166,667
D. $13,518,519
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NEW QUESTION: 2
A. Option B
B. Option D
C. Option A
D. Option C
Answer: C
NEW QUESTION: 3
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A. Medicare and private indemnity insurance, and Medicare provides primary coverage
B. Medicare and Medicaid, and Medicare provides primary coverage
C. Medicaid and private indemnity insurance, and Medicaid provides primary coverage
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