julgonzalez96 julgonzalez96

09-02-2017
Mathematics

Answered

If the reserve rate is 7% and a bank receives a deposit of $9000, how much of the $9000 is the bank free to lend?

Verified Answer :

dbruce0407 dbruce0407

09-02-2017

.07 x $9,000= $630
$9,000-$630= $8,370 that the bank can lend
Hope this helps

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