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Assume that Highland Town Bank has Checkable deposits of $770 million. The bank has legal (actual) reserves of $85 million. If the Required Reserve Ratio

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Assume that Highland Town Bank has Checkable deposits of $770 million. The bank has legal (actual) reserves of $85 million. If the Required Reserve Ratio as set by the FED is 10%, answer the following questions.(Circle your answer.) What is dollar amount ($) of the bank's required reserves? What is the maximum amount the bank can lend out in new loans

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