Calculate the Total Amount of Money "Created" from a Deposit

question 26

Short Answer

Calculate the total amount of money "created" from a deposit of $5,000 as it moves through four cycles of deposit. Assume a reserve rate of 15 percent. (Round answer to nearest two decimal places.)

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Definitions:

Data Materiality

The concept that data, while often thought of as abstract, has physical properties and real-world impacts through its storage, transmission, and processing.

Social Construct

A concept or perception of an entity or attribute that has been created and developed by society; it exists because people agree to behave as if it exists.

Daytime Television

Television programming that is typically aired during the morning and afternoon hours on weekdays, often including talk shows, news, soap operas, and game shows.

Cinematograph

An early motion picture device and film projector, marking significant advancements in the history of cinema.