why problem 30 is c?

The following bank balance sheet applies to the following 2 multiple-choice questions. Assume that the required reserve ratio, R = 10%, and that this is the ONLY bank in the economy. Consider each multiple- choice SEPARATELY Assets Liabilities $1000 $3000 $4000 Reserves Loans Checking Deposits 0 NW 29. For this bank, the excess reserve ratio, E- a. b. c. d. 10% 15% 20% 25% 30. Assume that Jack is the only one holding any cash, and he holds $500 in currency. Now he deposits the $500 into this bank. The maximum amount of M1 is closest to a. $8,000 b. $10,000 c. $14,000 d. $20,000