• Demand deposits total $100,000
• Cash in bank vaults totals $16,000
• The public holds cash of $24,000
• US government bonds held by banks total $8,000
• Banks' deposits in the Fed total $20,000

Let's say that one bank in the economy has $200 in excess reserves and that there are enough banks in total for the full multiplied money creation process to take place. Calculate the amount (the actual amount, not the maximum) that the entire banking system -- all banks working together -- will create in new money, using these ER as your starting point.Carefully follow all numeric directions, including those related to rounding.