Suppose First Main Street Bank, Second Republic Bank, and Third Fidelity Bank all have zero excess reserves. The required reserve ratio is 20%. The Federal Reserve buys a government bond worth $1,500,000 from Nick, a client of First Main Street Bank. He deposits the money into his checking account at First Main Street Bank.
Complete the following table to reflect any changes in First Main Street Bank's T-account (before the bank makes any new loans)

Assets Liabilities
Reserves/deposits/net work/loans Reserves/deposits/net work/loans

Complete the following table to show the effect of a new deposit on excess and required reserves when the required reserve ratio is 20%.

(Dollars) (Dollars) (Dollars)
1,500,000 ? ?