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1. (Text question 30, Chapter 14) A bank has deposits of $400. It holds reserves of $50. It has purchased government bonds worth $70. It

1. (Text question 30, Chapter 14) A bank has deposits of $400. It holds reserves of $50. It has purchased government bonds worth $70. It has made loans of $500. Set up a T-account balance sheet for the bank, with assets and liabilities, and calculate the banks net worth.

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