1a)Most people deposit funds by means of a check or by direct deposit. With direct deposit, your employer's bank automatically deposits your paycheck into your bank account, eliminating the time needed to clear this check.

1b)

Part 1 Most people deposit funds by means of a check or by direct deposit. With direct deposit, your employer's bank automatically deposits your paycheck into your bank account, eliminating the time needed to clear this check. Suppose that Rosa banks with the Olympia Credit Union and Rosa's employer uses Washington National Bank. Consider how Rosa's deposit affects both Rosa's bank and her employer's bank, using T-accounts for these two banks. Assume that the reserve requirement equals 10% on all checkable (transactions) deposits and that Rosa receives a $1,500 paycheck, which is deposited directly into her checkinq account. Consider the T-account for Rosa's bank, the Olympia Credit Union. Show how the direct deposit of $1,500 (drawn on her employer's bank) into Rosa's checking account affects the bank balance sheet. First, show how this transaction affects Olympia Credit Union's liabilities. Then, show how this transaction affects the bank's required reserves. Finally, calculate the excess reserves. Be sure to use minus (-) signs to indicate decreases. Part 1: Olympia Credit Union Assets Liabilities Required reserves Excess reserves Checkable deposits Enter this value for excess reserves in the numeric entry field in part 1 of the problem set