Ask Question
14 December, 23:06

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?

+4
Answers (1)
  1. 14 December, 23:11
    0
    that means the bank keeps 3% and can loan out 97% of the total

    16000*0.97 = $15,520 can be loaned out
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “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? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers