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Assume the required reserve ratio is 12 percent and that the commercial banking system has $110 million in excess reserves. The maximum amount of money

Assume the required reserve ratio is 12 percent and that the commercial banking system has $110 million in excess reserves. The maximum amount of money which the banking system could create is:(round to the nearest number)

$917 million

$330 million

$1,353 million

$110 million

$660 million

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