Answer Happy

Cita OrpenWURU Suppose a lottery winner deposits $10 million in cash into her transactions account at the Bank of America (BofA), Assume a reserve requirement of 10 percent and no excess reserves in the banking system prior to this deposit. Instructions: Round your responses to two decimal places. a Use the following T-account to show how her deposit Initially affects the balance sheet at Bola Step 1. Bank of America Assets (in millions) Liabilities (in millions) Reserves Deposits Required Excess Loans Total assets Total liabilities b. Has the money supply been changed by her deposit? (Click to select) Use the following T-account to show the changes at BotA after the bank fully uses its new lending capacity Step 2 - Bank of America Assets (in millions) Liabilities (in millions) Reserves Deposits Required Excess Loans Total assets Total liabilities d. Has the money supply been changed by step 2? (Click to seled)
Total assets Total liabilities d. Has the money supply been changed by step 2? (Click to veloct) e. After the entire banking system uses the lending capacity of the initial (510 millon) deposit by how much will the following have changed? Total reserves $1 Total deposits: $ million Total loans $ The money supply: $ million million million