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inance 4063: Fmancial Institutions and Markets Dr. Humphrey Name Consider a bank policy to maintain 12% of deposits as reserves. The bank currently has $10

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inance 4063: Fmancial Institutions and Markets Dr. Humphrey Name Consider a bank policy to maintain 12% of deposits as reserves. The bank currently has $10 million in deposits and holds $400,000 in excess reserves. What is the required reserve on a new deposit of $50,000? 1

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