A bank has currency and coins equal to $20 million in its vaults. It has securities worth $10 million, has borrowings equal to $5 million, and has given out loans equal to $2 million. It also has deposits with the Federal Reserve equal to $4 million. The total reserves of the bank equals

To calculate the total reserves of the bank, we need to understand what reserves are. Reserves refer to the amount of money that a bank holds to fulfill its obligations, maintain liquidity, and meet the regulatory requirements.

Total reserves can be calculated using the following formula:

Total Reserves = Currency + Deposits with the Federal Reserve

From the information given, we know that the bank has currency and coins equal to $20 million and deposits with the Federal Reserve equal to $4 million.

Therefore, we can calculate the total reserves as follows:

Total Reserves = $20 million (currency) + $4 million (deposits with the Federal Reserve)

Total Reserves = $24 million

Therefore, the total reserves of the bank equal $24 million.