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Calculate the money multiplier. (Round your answer to two decimal places.)Assume that these are the most recent U.S. data on key monetary variables (T stands

Calculate the money multiplier. (Round your answer to two decimal places.)Assume that these are the most recent U.S. data on key monetary variables (T stands for trillions of dollars):

Cash held by the public	$4T
Checking deposits	$7T
R	8%
E	6%

Calculate the money multiplier. (Round your answer to two decimal places.)

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