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NewBank started its first day of operations with $ 6 million in capital. A total of $ 1 2 0 million in chequable deposits is
NewBank started its first day of operations with $ million in capital. A total of $ million in chequable deposits is received. The bank makes a $ million commercial loan and lends another $ million in mortgage loans. Desired reserves are NewBank decides to invest $ million in day Tbills. The Tbills are currently trading at $including commissions for a $ face value instrument. How many Tbills does NewBank purchase? What does the balance sheet look like?
How many do they purchase?
New Bank can purchase Tbills. Round your answer to the nearest whole number
What does the balance sheet look like? Complete the table below. Round your answers to two decimal places
tableAssets $Liabilities $Desired Reserves,million,Chequable DepositsExcess Reserves,million,Bank CapitalTbills,million,Loans million,
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