Question: Please answer quickly help needed In the following bank balance sheet, amounts are in millions of dollars. The required reserve ratio is 3% on the

Please answer quickly help needed

Please answer quickly help needed In the following bank balance sheet, amounts

In the following bank balance sheet, amounts are in millions of dollars. The required reserve ratio is 3% on the first $30 million of checkable deposits and 15% on any checkable deposits over $30 million. Assets Liabilities Reserves $29.3 | Checkable deposits $180.0 Loans $150 Net worth $20.0 Securities $20.7 Total $200 Total $200 a. Calculate the bank's excess reserves. Excess reserves are $ | million. (Enter your response rounded to one decimal place.) b. Suppose that the bank sells $5 million in securities to get new cash. Show the bank's balance sheet after this transaction. (Enter your responses rounded to one decimal place.) Assets Liabilities Reserves Checkable deposits Loans Net worth Securities What are the bank's new excess reserves? Excess reserves are $| million. (Enter your response rounded to one decimal place.) c. Suppose that the bank loans all its excess reserves in part (b) to a local business. Show the bank's balance sheet after the loan has been made but before the business has spent the proceeds of the loan. (Enter your responses rounded to one decimal place.) Assets Liabilities Reserves Checkable deposits Loans Net worth Securities Now what are the bank's excess reserves? Excess reserves are $ | million. (Enter your response rounded to one decimal place.) d. Suppose that the business spends the proceeds of the loan by writing a check. Revise the bank's balance sheet and calculate its excess reserves after the check has cleared. (Enter your responses rounded to one decimal place.) Assets Liabilities Reserves Checkable deposits SL Loans Net worth Securities What are the bank's new excess reserves? Excess reserves are $|| million. (Enter your response rounded to one decimal place.) Enter your answer in each of the answer boxes

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