In December 2004, travelers checks in circulation were $8 billion. Checkable deposits owned by individuals and businesses were $667 billion. M1 was $1,372 billion. Money market funds and other deposits were $713 billion. M2 was $6,422 billion, and savings deposits were $3,520 billion. Calculate the currency held by individuals and businesses in December 2004. Calculate the small time deposits in December 2004. In December 2004, the currency held by individuals and businesses was $ billion. Small time deposits in December 2004 were $ billion.