Suppose That the Required Reserve Ratio Is 12 Percent and Banks

Suppose that the required reserve ratio is 12 percent and banks are holding excess reserves of 3 percent. If total reserves are $45 billion and the demand for currency is $150 billion, then

A) total deposits equal $300 billion supported in part by $9 billion in excess reserves.
B) total deposits equal $375 billion supported in part by $9 billion in excess reserves.
C) total deposits equal $450 billion supported in part by $36 billion in excess reserves.
D) total deposits equal $450 billion supported in part by $36 billion in required reserves.
E) total deposits equal $525 billion supported in part by $9 billion in excess reserves.