Ask Question
Yesterday, 20:48

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

+2
Answers (2)
  1. Yesterday, 21:52
    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
  2. Yesterday, 21:55
    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
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same individuals ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers