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During the two week period, July 14 to 27, a bank has an average balance of...

During the two week period, July 14 to 27, a bank has an average balance of transactions accounts of $850.55 million. The average balance in the cash account is $20.150 Million over this period. The bank is carrying forward a deficit of $1.756 million from the last reserve period. Calculate the net reserve requirement for the reserve maintenance period from August 13 to 26. Calculate the minimum reserves that may be maintained and the maximum reserves that will count toward the next reserve maintenance period, August 27 to September 9.

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