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Suppose the reserve requirement for transaction deposits is 10% and it is 5% for nontransaction deposits. What is the total reserve requirement, in millions, for

Suppose the reserve requirement for transaction deposits is 10% and it is 5% for nontransaction deposits. What is the total reserve requirement, in millions, for a bank with total deposits equal to $700 million, if $300 million of these deposits are classified as transaction deposits?

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