Money Market Mutual Fund Balances Held by Businesses $100 Money Market Mutual Fund Balances Held by Individuals 140 Currency in Banks 10 Currency in Circulation 60 Savings Deposits, Including Money Market Deposit Accounts 70 Large-denominated ($100,000 or more) Time Deposits 180 Small-denominated ($100,000 or less) Time Deposits 100 Checkable Deposits 70

Money Market Mutual Fund Balances Held by Businesses $100 Money Market Mutual Fund Balances Held by Individuals 140 Currency in Banks 10 Currency in Circulation 60 Savings Deposits, Including Money Market Deposit Accounts 70 Large-denominated ($100,000 or more) Time Deposits 180 Small-denominated ($100,000 or less) Time Deposits 100 Checkable Deposits 70

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter14: Money And Banking

Section14.2: History Of Americans Money And Banking

Problem 2R

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How much money do you have to put into a bank account that pays 10% interest compounded annually to have 10,000 in ten years?
Should banks have to hold 100 of their deposits? Why or why not?
Name several different kinds of bank account. How are they different?
What is the risk if a bank does not diversify its loans?
Round Deposits Required Reserves of 20% Excess Reserves New Loans 50% of loan proceeds are held as currency in circulation by people Loan proceeds redeposited 1 $500 $100.00 $400.00 $400.00 $200.00 $200.00 2 $200 $40 $160 $160 $80 $80 3 $80 $16 $64 $64 $32 $32 4 $32 $6.40 $25.60 $25.60 $12.80 $12.80 5 $12.80 $2.56 $10.24 $10.24 $5.12 $5.12 6 $5.12 $1.02 $4.10 $4.10 $2.05 $2.05 7 $2.05 $.41 $1.64 $1.64 $.82 $.82 8 $.82 $.16 $.66 $.66 $.33 $.33 9 $.33 $.07 $.26 $.26 $.13 $.13 10 $.13 $.03 $.10 $.10 $.05 $.05 Totals $833.25 $166.65 $666.60 $666.60 $333.30 $333.30 Calculate the new money supply. Calculate the money multiplier.
What are the characteristics (6)of money?
Round Deposits Required Reserves of 20% Excess Reserves New Loans None of loan proceeds are held as currency in circulation by people Loan proceeds redeposited 1 $500 $100 $400 $400 0 $400 2 $400 $80 $320 $320 0 $320 3 $320 $64 $256 $256 0 $256 4 $256 $51.20 $204.80 $204.80 0 $204.80 5 $204.80 $40.96 $163.84 $163.84 0 $163.84 6 $163.84 $32.77 $131.07 $131.07 0 $131.07 7 $131.07 $26.21 $104.86 $104.86 0 $104.86 8 $104.86 $20.97 $83.89 $83.89 0 $83.89 9 $83.89 $16.78 $67.11 $67.11 0 $67.11 10 $67.11 $13.42 $53.69 $53.69 0 $53.69 Totals $2231.57 $417.31 $1785.26 $1785.26 0 $1785.26 Calculate the new money supply. (Enter response here.) Calculate the money multiplier.
What are 2-3 products and/or services that have been improved or introduced in recent years by banks due to new technology?
No plagiarism Identify and explain the three main characteristics and uses of money.
1. A bank is offering to sell four-month certificates of deposit for $ 4,926. At the end of four months, the bank will pay $5,000 to the certificate owner. Based on a four-month interest period: a) What is the interest rate the bank is paying you? b) What are the nominal and effective interest rates on this certificate of deposit?
An advantage that money has over other assets is that it: a. Provides a higher return to the owner b. Is a safer asset to hold during times of inflation c. Increases in value over time d. Has lower transaction costs to use as a means of payment than other assets
Illustrate how the Cash Balances change over time?

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Money Market Mutual Fund Balances Held by Businesses	$100
Money Market Mutual Fund Balances Held by Individuals	140
Currency in Banks	10
Currency in Circulation	60
Savings Deposits, Including Money Market Deposit Accounts	70
Large-denominated ($100,000 or more) Time Deposits	180
Small-denominated ($100,000 or less) Time Deposits	100
Checkable Deposits	70