How much in excess reserves does each bank have

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Reference no: EM132012882

Suppose that National Bank of Guerneville has $32 million in checkable deposits, Commonwealth Bank has $46 million in checkable deposits, and the required reserve ratio for checkable deposits is 10%.

If National Bank of Guerneville has $4 million in reserves and Commonwealth has $5 million in reserves, how much in excess reserves does each bank have?

(Enter your answers rounded to one decimal place.) National Bank of Guerneville has $ million in excess reserves.

Reference no: EM132012882

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