Suppose Robina Bank receives a deposit of $54,589 and the reserve requirement is 3%. Answer the questions using this information. Round your answers to two decimal places. What is the amount that Robina Bank must keep on hand as required by the Federal Reserve (Fed)? keep on hand: $ What is the amount that Robina Bank must have in excess reserves from this initial deposit? excess reserves: S What is the total change in the MI money supply from this one deposit?
Suppose Robina Bank receives a deposit of $54,589 and the reserve requirement is 3%. Answer the questions using this information. Round your answers to two decimal places. What is the amount that Robina Bank must keep on hand as required by the Federal Reserve (Fed)? keep on hand: $ What is the amount that Robina Bank must have in excess reserves from this initial deposit? excess reserves: S What is the total change in the MI money supply from this one deposit?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Suppose Robina Bank receives a deposit of $54,589 and the reserve requirement is 3%. Answer the questions using
this information.
Round your answers to two decimal places.
What is the amount that Robina Bank must keep on hand as
required by the Federal Reserve (Fed)?
keep on hand: $
What is the amount that Robina Bank must have in excess
reserves from this initial deposit?
excess reserves: S
What is the total change in the M1 money supply from this
one deposit?
total change: $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F61f2d5ac-649f-45ec-898a-0ccbdbee88f9%2F2ad3f25f-2b75-45fa-ad71-34cb74315c32%2Ffj5kp1w_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose Robina Bank receives a deposit of $54,589 and the reserve requirement is 3%. Answer the questions using
this information.
Round your answers to two decimal places.
What is the amount that Robina Bank must keep on hand as
required by the Federal Reserve (Fed)?
keep on hand: $
What is the amount that Robina Bank must have in excess
reserves from this initial deposit?
excess reserves: S
What is the total change in the M1 money supply from this
one deposit?
total change: $
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