Suppose that the bank of oranges has excess reserves of $80,000,000 and checkable deposits of $500,000,000. if the bank has a reserve requirement of 10 percent, what is the bank’s total amount of reserves? choose one:
a. $130,000,000
b. $30,000,000
c. $580,000,000
d. $0
e. $508,000,000
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