Calculate the total money supply

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Reference no: EM13897161

Write down the T balance for the following scenarios and calculate the total money supply.

Assume the reserve ratio is 5%.

a. Annie had $2000 in cash. She decided to open an account at TCF bank.

b. Kevin got a loan worth 1900 from the bank and paid his contractor Jeff. Jeff deposited the full amount in the bank

c. Tom got a loan in the amount of $1600. He spent it all on his business development.

d. Website developer Sara deposited her $1600 at TCF.

e. Ford got a loan in the amount of $1100 and paid his existing debt to Joan. Joan deposited the full amount.

Reference no: EM13897161

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