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Connect Problem CP 15-14 (algo) Suppose that in a given month $61 million is deposited into the banking system while $65 million is withdrawn. Also

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Connect Problem CP 15-14 (algo) Suppose that in a given month $61 million is deposited into the banking system while $65 million is withdrawn. Also suppose that the Fed has set the reserve requirement at 5 percent and that banks have no excess reserves at the beginning of the month. What is the maximum amount of new checkable-deposit money that can be created (or removed) by the banking system as a result of these deposits and withdrawals? Instructions: Enter your answer as a whole number. Enter a positive number to show an increase and a negative number (-) to show a decrease. $ million

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