The table below presents data for different components of the U.S. money supply in January 2007. Use the information in the table to answer the questions that follow (all values are in billions of dollars):

Components	Amount
Currency	$751
Checkable deposits	$616
Money market account	$787
Savings	$3,706
Small-denomination time deposits	$1,213
Traveler's checks	$7
3-Month U.S. Treasury bills	$2,300

In January2007, the total value of M1 was $ billion. In January2007, the total value of M2 was $ billion.