Question: what is the right answer for part c? In the following bank balance sheet, amounts are in millions of dollars. The required reserve ratio is

what is the right answer for part c?

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 chockable deposits over $30 miltion. a. Calculate the bank's excess reserves. Excess teserves are: million (Enter your response rounded to one decimal place.) b. Suppose that the bank sells $5 mllion in securities to get new cash. Show the bank's balance sheet after this trarisaction. (Enter your responses rounded to one decimal ploce.) What are the bank's new excess reserves? Excess reserves are? milion (Enter your response rounded to one decimal place ) c. Suppose that the bank loars all its excess reserves in part (b) to a local business. Show the bank's balance sheot after the loan has been made but before the butiness has spent the proceeds of the loan. (Enter your responses rounded to one decimal place)

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