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Al Tutor

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$5$ of $20$

Table $1$ shows the financial position of the Smithville Bank once $$2915\mathrm{.}00$ has been deposited.

Assume that the required reserve ratio is $9\mathrm{.}00\%.$

The bank manager decides to lend Billy Bob Smith all of the bank's excess reserves. Billy Bob takes the funds to Eula Mae's Used Machines and buys a pickup truck. Eula Mae then deposits the money in her account back at the Smithville Bank.

Table $2$ shows the bank's accounts after the loan is made and the funds are again deposited. $*$For all following questions, please round your answer to the nearest hundredth. $*$

Table $1.$ Original T$-$chart

$\backslash$table$[[$Assets$,$Liabilities$],[$reserves: $$2915\mathrm{.}00,$deposits: $$2915\mathrm{.}00$