Answer:
$13,500
Explanation:
Calculation for what amount of excess reserves does the bank now have
First step is to calculate the Total deposit using this formula
Total deposit=Checkable deposits+Currency deposit
Let plug in the formula
Total deposit=100,000+15,000
Total deposit=115,000
Second step is to calculate the required reserve
Required reserve= 115,000x.10
Required reserve=11,500
Third step is to calculate the Reserves using this formula
Reserves = Already Existing reserves + Currency deposit that was added to reserves
Reserves= 10,000+15,000
Reserves=25,000
Last step is to calculate the Excess reserves using this formula
Excess reserves = Reserves - Required reserves
Let plug in the formula
Excess reserves= 25,000-11,500
Excess reserves= $13,500
Therefore the amount of excess reserves that the bank now have will be $13,500