If the central bank buys €1 million of bonds from the Safe Bank, but an additional 10% of any deposit is held as excess reserves, what is the total increase in chequable deposits? (Hint: Use...

If the central bank buys €1 million of bonds from the Safe Bank, but an additional 10% of any deposit is held as excess reserves, what is the total increase in chequable deposits? (Hint: Use T-accounts to show what happens at each step of the multiple expansion process.)