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Jamie made a cash withdrawal from her checking account. This resulted in a decline in the money supply of $14,181.82. The reserve requirement is 10%,
Jamie made a cash withdrawal from her checking account. This resulted in a decline in the money supply of $14,181.82. The reserve requirement is 10%, and all banks keep excess reserves equal to 12% of checking deposits. What was the amount of Jamie's withdrawal? Show your work.
Jamie made a cash withdrawal from her checking account. This resulted in a decline in the
money supply of $14,181.82. The reserve requirement is 10%, and all banks keep excess
reserves equal to 12% of checking deposits.
What was the amount of Jamie's withdrawal? Show your work.
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes
4th Edition
0256147175, 978-0256147179
