Question: Question 1: Answer the next two questions based on the T-account of The First Bank of America: (2 points) The First Bank of America Assets

Question 1: Answer the next two questions based on the T-account of The First Bank of America: (2 points) The First Bank of America Assets Liabilities Reserves $300 Deposits $10,000 Loans $9,700 1.1. What is the reserve ratio for the First Bank of America? 1.2. If $1,000 is deposited into the First Bank of America, and the bank loans out the maximum legal amount, illustrate these changes in the T-account for the bank below: The First Bank of America Assets Liabilities Reserves Deposits Loans

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