90.2K
Verified Solution
Link Copied!
6
| Assets | | INCOME STATEMENT DATA |
| | | | Interest Income | 444,902 |
| Cash | 336,500 | | Non Interest Income | 227,550 |
| Fed Funds | 72,000 | | Interest Expenses | 280,850 |
| Treasury Securities | 1,498,000 | | Non Interest Expenses | 165,000 |
| Muncipal Bonds | 248,000 | | Provision for loan losses | 5,950 |
| Corporate Bonds | 48,000 | | TAX RATE | 21% |
| Gross Loans and Leases | 4,500,000 | | | |
| Reserve for loan losses | 12,000 | | | |
| Net Loans and Leases | 4,488,000 | | | |
| Other Assets | 34,000 | | | |
| Total Assets | 6,724,500 | | | |
| | | | | |
| Liabilities | | | |
| Demand deposits | 514,000 | | | |
| Savings Accounts | 700,000 | | | |
| NOW Accounts | 800,000 | | | |
| Money Market Accounts | 300,000 | | | |
| CD (retail < 250,000) | 2,580,000 | | | |
| CD (wholesale > 250,000) | 1,200,000 | | | |
| REPO's | 37,000 | | | |
| Other liabilities | 12,700 | | | |
| Total Liabilities | 6,143,700 | | | |
| Total Equity | 580,800 | | | |
| Total Liabilities & Equity | 6,724,500 | | - | |
CALCULATE AVERAGE COST OF INTEREST-BEARING LIABILITIES (COST RATE ON FUNDS)
PRESENT YOUR ANSWER AS PERCENTAGE ROUNDED TO ZERO DECIMAL PLACES, DON'T USE THE PERCENTAGE SYMBOL
EXAMPLE IF YOUR ANSWER IS 57%, JUST WRITE 57
Answer & Explanation
Solved by verified expert
