1. If the excess reserves is $6,500, what is the maximum amount this bank can expand on its loans? I must show my work.

I believe that the answer is the maximum amount the bank can expand on its loans is ($6,500 * 0.95), deposited in multiple rounds of bank deposits up to 10 rounds with a total sum of all deposits calculated at the 10th round. For example,

Round 1 = $6,500.00

Round 2 = + $6,175.00 ($6,500.00 *0.95)

Round 3 = + $5,866.25 ($6,175.00 * 0.95)

Round 4 = + $5,572.94 ($5866.25 * 0.95)

Round 5 = ..... and so on until I get to the 10th and final round of new deposits/loans.

Am I correct?