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Assume that the reserve ratio in a country is 4%. Suppose that in 2019 customers deposit $3,500 into their banks. Based on the simple money

Assume that the reserve ratio in a country is 4%.

Suppose that in 2019 customers deposit $3,500 into their banks. Based on the simple money multiplier calculated in part (i), calculate the total amount which the money supply in the banking system will eventually increase to. Show all steps involved in the calculation.

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