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NewBank started its first day of operations with $112 million in capital. A total of $105 million in checkable deposits is received. The bank makes
NewBank started its first day of operations with
$112 million in capital. A total of $105 million in checkable deposits is received. The bank makes a $28 million commercial loan and another
$27 million in mortgage loans. The required reserve ratio is 8.7% (Note:Information is based on NewBank's first month of operations.)
Complete NewBank's balance sheet shown below: (Round your responses to the nearest whole number.)
Assets | Liabilities | ||||||
Required reserves | $? | million | Checkable deposits | $? | million | ||
Excess reserves | $? | million | Bank capital | $? | million | ||
Loans | $? | million |
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