What is the change in checkable-deposits

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Reference no: EM131091313

Use the following data to answer the below question.

Required reserve? $50

Checkable deposits? $500

Savings Deposits? $50

Excess reserves? $180

Currency held by the public? $160

The money multiplier is 1.69

The Fed conducts an open market purchase of $71

What is the change in checkable? deposits?

Round to 2 decimal? places

Reference no: EM131091313

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