Suppose that an Irish Sweepstakes winner deposits $20 million in cash into her transactions account at the
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Suppose that an Irish Sweepstakes winner deposits $20 million in cash into her transactions account at the Bank of America. Assume a reserve requirement of 25 percent and no excess reserves in the banking system prior to this deposit. Show the changes on the Bank of America balance sheet when the $20 million is initially deposited. L03
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