Can someone help check/fill in the empty boxes for the reserves, loans, and deposits? Show detailed calculations!This is what I got-Panel 1:Reserves: 124 BillionLoans: 496 BillionDeposits: 620 BillionPanel 2:Reserves: 124 BillionLoans: 1116 BillionDeposits: 1240 BillionI just need calculations for these answers.

policy tools. Indicate what the numbers are in each panel to get the full credit for each question! When finished, sign the work and submit the assignment file to Canvas under the last name by specified deadline in MS Word 2019 file format or higher. Failure to comply with submission requirements may result in grade reduction! 1. Single private bank in the economy initially has $124 billion deposited by its customers on their checking accounts. If reserve requirement ratio established by the Fed for this bank is 20% then how much money can it lend to borrowers until it's fully loaned up? To answer this question, show the bank's balance sheet right after it makes new loans to borrowers up to the point where it has no excess reserves left (panel 1). If the Fed lowers the reserve requirement from 20% to 10%, then how much more money can the bank lend to borrowers until it's fully loaned up? To answer this question, show the bank's balance sheet right after it makes new loans to the borrowers up to a point where it has no excess reserves (panel 2). (8 points) Panel 1. Bank's balance sheet after it makes new loans (under RRR-20%) Assets Liabilities Panel 2. Bank's balance sheet after it makes new loans (under RRR-10%) Assets Liabilities