Fiona deposits $2,000 into a savings account. if the fed requires a 20 percent reserve ratio, how much of fiona’s money can the

Question

dimaraw [331]

3 years ago

11

Fiona deposits $2,000 into a savings account. if the fed requires a 20 percent reserve ratio, how much of fiona’s money can the

bank lend?

Social Studies

2 answers:

alukav5142 [94] · Answer 1 · 2022-05-27T08:55:33+03:00

alukav5142 [94]3 years ago

4 0

$1,600, since 20% must remain in the account.

Bumek [7] · Answer 2 · 2022-05-27T06:44:07+03:00

Bumek [7]3 years ago

3 0

The amount the the fed require =

20/100 x 2,000 = 400

The amount of money that Fiona's bank can lend is : $ 2,000 - $ 400
= $ 1,600

Hope this helps