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Question 25 5 pts Johnny's Credit Union was formed so that friends of Johnny could start their own depository institution. Johnny's Credit Union needs to

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Question 25 5 pts Johnny's Credit Union was formed so that friends of Johnny could start their own depository institution. Johnny's Credit Union needs to maintain its required reserves at 10% of total deposits. Assume Johnny's CU has $120 million in deposits and has a policy of maintaining 12% of reserves. How much is Johnny's holding in reserves (in $5 millions)

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