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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Third National Bank has reserves of $20,000 and checkable deposits of $200,000. The reserve ratio is 10 percent. Households deposit $20,000 in currency into the bank and that currency is added to reserves.
Instructions: Enter your answer as a whole number.
What level of excess reserves does the bank now have? $.
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