Please give me correct answer with proper calculation otherwise i give multiple multiple downvote Note:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. In the following bank balance sheet, amounts are in millions of dollars. The required reserve ratio is 3% on the first $30 million of checkable deposits and 15% on any checkabledeposits over $30 million.AssetsLiabilities$28.1 Checkable deposits$150 Net worth$21.9$200 TotalReservesLoansSecuritiesTotala. Calculate the bank's excess reserves.Excess reserves are $ million (Enter your response rounded to one decimal place)$180.0$20.0$200

Reserves are essential for financial stability, providing a buffer against unforeseen events and…

Answered: In the following bank balance sheet,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please give me correct answer with proper calculation otherwise i give multiple multiple downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.

In the following bank balance sheet, amounts are in millions of dollars. The required reserve ratio is 3% on the first $30 million of checkable deposits and 15% on any checkable
deposits over $30 million.
Assets
Liabilities
$28.1 Checkable deposits
$150 Net worth
$21.9
$200 Total
Reserves
Loans
Securities
Total
a. Calculate the bank's excess reserves.
Excess reserves are $ million (Enter your response rounded to one decimal place)
$180.0
$20.0
$200

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