$\text { Assets }\quad\quad\quad\quad\quad\quad\quad \text { Liabilities }$ -The Above Table Gives the Initial Balance Sheet for Mega

Multiple Choice

$\text { Assets }\quad\quad\quad\quad\quad\quad\quad \text { Liabilities }$
$\begin{array}{|lc|lc|}\hline \text { Reserves } & \$ 30 &\text { Deposits }&\$1,000\\\text { Loans }&\$970\\\text { Total } & \$ 1,000&\text { Total }&\$1,000 \\\hline\end{array}$
-The above table gives the initial balance sheet for Mega Bank. Barney comes into the bank and deposits $50 of currency into his checking account. The desired reserve ratio is 3 percent. After Barney?s deposit, but before any other actions occur, what volume of loans will be made by MegaBank if the bank wants more profit and holds no excess reserves?

A) $33.00
B) $48.50
C) $15.00
D) $50.00