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Question 5 1 pts Bank Two has $100 in reserves, $440 in loans and checkable deposits of $540. Assume the required reserve ratio is 5%.

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Question 5 1 pts Bank Two has $100 in reserves, $440 in loans and checkable deposits of $540. Assume the required reserve ratio is 5%. A new customer deposits $220 in a checking account. After the bank receives this new deposit, the bank transforms all its excess reserves into loans and consequently, the bank has total loans of? O $685 $705 O $722 $744

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