Naviouss3 Naviouss3

24-07-2017
Mathematics

contestada

if the reserve rate is 3% and a bank receives a deposit of 16,000 how much of the 16,000 is the bank free to loan out?

Respuesta :

musiclover10045 musiclover10045

24-07-2017

that means the bank keeps 3% and can loan out 97% of the total

16000*0.97 = $15,520 can be loaned out

Answer Link

pbass707 pbass707

03-12-2020

Answer: $15,520

Step-by-step explanation:

Just took the test :)

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