hi, I don't know why answer is 3.43. Becuse from the equation which provide on the textbook, I don't know how to calculate ER/D. Or you can use your way to calculate the 3.43, tell me every step.

DI Question 6 1 pts If currency outstanding equals $200 million, checkable deposits equal $1 billion, reserves equal $150 million, and the required reserve ratio is 0.10, the money multiplier equals 0.86 3.14. 3.43 4 Recall that the ratio of required reserves to checkable deposits is the required reserve ratio, D. We can use this fact to arrive at our final expression for the money multiplier: (C/D) 1 (C/D) + rrD + (ER/D)