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yanalaym [24]
3 years ago
15

You decide to take $600 out of your piggy bank at home and place it in the bank. If the reserve requirement is 2 percent, how mu

ch can your $600 increase the amount of money in the economy? Instructions: Round your answer to the nearest dollar. $______________
Business
1 answer:
Ostrovityanka [42]3 years ago
3 0
To determine the increase in the amount of money in the economy brought about the $600 taken out of the piggy bank, we multiply $600 by the decimal equivalent of the percentage given. That is,
                                  ($600) x (0.02) = $12
Hence, your $600 will increase the amount of money in the economy by $12. 
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