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A bank has the following average deposit balances during the reserve computation period: NOW Accounts $78 milion Demand Deposits $84 million CDs $142 million The

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A bank has the following average deposit balances during the reserve computation period: NOW Accounts $78 milion Demand Deposits $84 million CDs $142 million The legal reserve requirements set by the Fed are the following Calculate the dollar amount of required reserves (in $ millions) that the bank is required to hold during the reserve maintenance period. Enter the value as a number rounded to two decimats using no dollar signs (e.g. $30 million is entered as 30.00 )

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