Following are components of the M1 money supply at the end of last year. What will be

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Following are components of the M1 money supply at the end of last year. What will be the size of the M1 money supply at the end of next year if currency grows by 10 percent, demand deposits grow by 5 percent, other checkable deposits grow by 8 percent, and the amount of traveler’s checks stays the same?

Currency.....................................$700 billion

Demand deposits......................$300 billion

Other checkable deposits.........$300 billion

Traveler’s checks..........................$10 billion

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