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Suppose that a lottery winner deposits $12 million in cash into her transactions account at the bank of america (b of a. assume a reserve requirement of 20 percent, no loans, and no excess reserves in
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Suppose that a lottery winner deposits $12 million in cash into her transactions account at the bank of america (b of

a. assume a reserve requirement of 20 percent, no loans, and no excess reserves in the banking system prior to this deposit.

User Mursa Catalin
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1 Answer

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$6,000,000 is 20% of $12,000,000
User MoTahir
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