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Lubov Fominskaja [6]
3 years ago
9

Suppose a banking system has a required reserve ratio of 0.15. How much can the money supply increase in response to a $1 billio

n increase in excess reserves for the whole banking system?
Business
1 answer:
fenix001 [56]3 years ago
5 0

Answer:

the money supply increase in response to a $1 billion increase in excess reserves for the whole banking system is $6.67billion.

Explanation:

Increase in money supply = 1/0.15

Increase in money supply = $6.67 billion

Therefore, the money supply increase in response to a $1 billion increase in excess reserves for the whole banking system is $6.67billion.

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Answer:

Schedule:

\left[\begin{array}{cccccc}$Period&$Beginning&$Installment&$Interest&$Amortization&$Ending\\1&113515&15700&0&15700&97815\\2&97815&15700&2934&12766&85049\\3&85049&15700&2551&13149&71900\\4&71900&15700&2157&13543&58357\\5&58357&15700&1752&13948&44409\\6&44409&15700&1333&14367&30042\\7&30042&15700&902&14798&15244\\8&15244&15700&456&15244&0\\\end{array}\right]

Journal entries:

equipment 113,515 debit

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--to record lease agrement and first payment.

interest expense 2,934 debit

     lease liability     2,934 credit

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lease liablity   15,700 debit

     cash               15,700 credit

--to record Jan 1st,2022 Payment--

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As the payment are at the beginning there is no interest in the first period.

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Explanation:

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aswer is

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It's absolutely True !!
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