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How much new deposits would the entire system of commercial

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Reference no: EM132969729

The following facts describe the banking system:

Banks hold no excess reserves

Desired reserve ratio for all banks is 8.0 %

There is a currency drain of 2.3 %

Problem 1: Based on the information provided, if a commercial bank received a deposit of $ 108 , how much new deposits would the entire system of commercial banks eventually create?

a. 1112.40

b. 1048.54

c. 10800.00

d. None of the answers offered are accurate.

e. 1153.40

Reference no: EM132969729

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