NewBank started its first day of operations with $$6$ million in capital. $$100$ million in checkable deposits is received. The bank issues a $$25$ million commercial loan and another $$25$ million in mortgages, with the following terms: Mortgages: $100$ standard $30-$year fixed$-$rate mortgages with a nominal annual rate of $5\mathrm{.}25\%$ each for $$250,000$ Commercial loan: $3-$year loan, simple interest paid monthly at $0\mathrm{.}75\%$ per month.terest paid reages on$1.$ If required reserves are $8\%,$ what do the bank balance sheets look like? Ignore any loan loss reserves$\mathrm{.}2.$ NewBank decides to invest $$45$ million in $30-$day T$-$bills. The T$-$bills are currently trading at $$4,986\mathrm{.}70$ for a $$5,000$ face lion in $30-$day T$-$bills, Tvalue instrument. How many do they purchase? What does the balance sheet look like?$3.$ On the third day of operations, deposits fall by $$5$ million. What does the balance sheet look like? Are there any problems?$4.$ To meet any shortfall in the previous question, NewBank will borrow the cash in the federal funds market.Management decides to borrow the needed funds for the remainder of the month $($now $29$ days$).$ The required yield on a discount basis is $2\mathrm{.}9\%.$ What does the balance sheet look like after this transaction?$5.$ The end of the month finally arrives for NewBank, and it receives all the required payments from its mortgages, commercial loans, and T$-$bills. How much cash was received? How are these transactions recorded?$6.$ NewBank also pays off its federal funds borrowed. How much cash is owed? How is this recorded?$7.$ What does the month$-$end balance sheet for NewBank look like? Calculate this before any income tax consi