The Federal Reserve Bank of St. Louis reports an alternate measure of the money supply called MZM. This monetary aggregate includes only assets without a maturity date. According to this definition, compute MZM using the information in the table above. Note: you need to review what each of the instruments above are in order to answer this question.

Currency $1,250

Large time deposits $3,200

Demand deposits $2,200

Small time deposits $1,400

Treasury bills $5,200

Savings and money market deposit accounts $1,800

Institutional money market mutual funds $4,000

Commercial paper $700

Other checkable deposits $800

Municipal bonds $2,500