The required reserve ratio is 0.1, the level of deposits is $3000, the level of currency held by the public is $500, the level of excess reserves is $100, the level of money market funds is $6,000 and the level of time deposits is $3,000. Find m₂.

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The Answer of The required reserve ratio is 0.1, the level of deposits is $3000, the level of currency held by the public is $500, the level of excess reserves is $100, the level of money market funds is $6,000 and the level of time deposits is $3,000. Find m₂.

The Required Reserve Ratio Is 0