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14 September, 15:13

In October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same individuals and companies were $345.6 billion; money market funds were $1.9423 trillion; savings deposits were $989.4 billion; finally, time deposits were $243.8 billion. What is the M2 for October 2010

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Answers (2)
  1. 14 September, 17:08
    0
    Answer: $4.4145 trillion

    Explanation: To answer this, we will add all the figures, thus:

    M2 = 893,400,000,000 + 345,600,000,000 + 1,942,300,000,000 + 989,400,000,000 + 243,800,000,000

    = 4,414,500,000,000

    Therefore, the answer is $4.4145 trillion
  2. 14 September, 17:42
    0
    The M2 for October 2010 is $4.4145 trillion

    Explanation:

    In this question, we are asked to calculate the value of M2 for the month of October 2010. We use a mathematical approach for this;

    Mathematically:

    M2 = M1 + Savings deposits + Money market funds + Certificates of deposit + other time deposit

    We identify the parameters in the question as follows:

    Savings deposit = $989.4 billion

    Money Market funds = $1.9423 trillion

    Certificates of deposit = $345.6 billion

    Other time deposit = $243.8 billion

    M1 = $893.4 billion

    We thus calculate M2 as = $989.4 billion + $1.9423 trillion + $345.6 billion + $243.8 billion + $893.4 billion = $4.4145 trillion
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