(Answered) If the required reserve ratio is 10 and 4000 is deposited

Engineering

If the required reserve ratio is 10% and $4000 is deposited into a checking account at 1st National Bank:

What is the level of required reserves?

What is the level of excess reserves?

What is the maximum amount of M1 that can be created as a result of this $4000 deposit?

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Computer Engineering, Engineering

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