Bank have available in excess reserves to make loans

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Reference no: EM131340711

1st Generic Bank receives new demand deposits of $1.8 million. Their current reserve requirement is 6%. 1st Generic has $90,000 in vault cash and $100,000 at the the Federal Reserve that has not been invested yet. How much does the bank have available in excess reserves to make loans? (show work for full credit)

Reference no: EM131340711

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