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Please solve for last blank, please show work clearly and answer, thanks! Suppose that National Bank of Guerneville has $32 million in checkable deposits, Commonwealth
Please solve for last blank, please show work clearly and answer, thanks!
Suppose that National Bank of Guerneville has $32 million in checkable deposits, Commonwealth Bank has $46 million in checkable deposits, and the required reserve ratio for checkable deposits is 10%. If National Bank of Guerneville has $4 million in reserves and Commonwealth has $5 million in reserves, how much in excess reserves does each bank have? (Enter your answers rounded to one decimal place.) National Bank of Guerneville has $ .8 million in excess reserves. Commonwealth Bank has S .4 million in excess reserves. Now suppose that a customer of National Bank of Guerneville writes a check for $2 million to a real estate broker who deposits the check at Commonwealth. After the check clears, how much in excess reserves does each bank have? National Bank of Guerneville has $ million in excess reservesStep by Step Solution
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