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a. FirstBank started its first day of operations having $8 million in capital. $120 million in checkable deposits is received. The bank issues a $30

a. FirstBank started its first day of operations having $8 million in capital. $120 million in checkable deposits is received. The bank issues a $30 million commercial loan and another $30 million in mortgage loan. If required reserves are 10%, what do the bank balance sheets look like?

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Assets Liabilities Required Reserves Checkable Deposits Excess Reserves Bank Capital Loans

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