Consider a bank policy to maintain 15% of deposits as reserves. The bank currently has $10 million in deposits and holds $500,000 excess reserves. What is the required reserve on a new deposit of $50,000? Estimates of unemployment for the upcoming year have been developed as follows: What is the expected unemployment rate? The standard deviation? Compute the required monthly payment on a $100,000 30-year, fixed-rate mortgage with a nominal interest rate of 5.20%. How much of the payment goes toward principal and interest during the first year