What must the reserve requirement be

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1. You visited Switzerland over summer and brought back 1,621.61 swiss francs to the United States. How many U.S. dollars will you get if you exchange your swiss francs for U.S. dollars? The exchange rate is 1 U.S dollar = 0.8805 swiss francs.

2. Assume that the Federal Reserve injects $96 billion into the financial system. If the money supply increases by a maximum of $660 billion, what must the reserve requirement be? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Reference no: EM132058222

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