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3 years ago

The reserve requirement is 15 percent. Lucy deposits $600 into a bank. By how much do excess reserves change

Business

1 answer:

Hatshy [7]3 years ago

7 0

Answer:

$510

Explanation:

Calculation for By how much do excess reserves change

Using this formula

Change in excess reserve= Bank Deposits-(Reserve requirement*Deposit)

Let plug in the formula

Change in excess reserve=$600-($600*15%)

Change in excess reserve=$600-$90

Change in excess reserve=$510

Therefore By how much do excess reserves change is $510

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3 years ago

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