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Suppose that JPMorgan Chase sells $100 million in Treasury bills to the Fed. . Use T-accounts to show the immediate impact of this sale on

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Suppose that JPMorgan Chase sells $100 million in Treasury bills to the Fed. . Use T-accounts to show the immediate impact of this sale on the balance sheets of JPMorgan Chase and the Fed. Enter your rosponses as integers. Include a minus sign to indicate a negative change, but do not include a plus sign for positive change.) . Suppose that before selling the Treasury bills, JPMorgan Chase had no excess reserves. Suppose that the required eserve ratio is 25%. Suppose that JPMorgan Chase makes the maximum loan it can from the funds acquired by selling he Treasury bills. Assume that the loan was made to a JP Morgan Chase customer and deposited into his or her ccount. Use a T-account to show the initial impact of granting the loan on JPMorgan Chase's balance sheet. (Enter our responses as integers. Include a minus sign to indicate a negative change, but do not include a plus sign for a ositive change.) c. Now suppose that whoever took out the loan in part (b) writes a check for this amount and that the person receiving the check deposits it in Wells Fargo Bank. Show the effect of these transactions on the balance sheets of JPMorgan Chase and Wells Fargo after the check has been cleared. (Enter your responses as integers. Include a minus sign to indicate a negative change, but do not include a plus sign for a positive change.) d. If currency in circulation is $600 bilion, total reserves of the banking system are $800 billion, and total checkable deposits are $2,900 bilion, what is the maximum increase in the money supply that can result from the transaction in part (a)? (That is, the maximum increase after all actions resulting from the transaction in part (a) have occurred.) Be sure to use the realistio money multiplier, as opposed to the simple deposit multiplier, in the calculation. The increase in the money supply is \$ million. (Enter your response as an integer.)

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