Determine the total amounts of M1 and M2 based on the following data from July 2010:
Currency held by individuals and businesses was $921 billion.
Traveler's checks were $7 billion.
Checkable deposits owned by individuals and businesses were $813 billion.
Savings deposits were $5,420 billion.
Small time deposits were $1,700 billion.
Money market funds and other deposits were $1,003 billion.