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If the reserve rate is 7% and a bank receives a deposit of $9000, how much of the $9000 is the bank free to lend?

If the reserve rate is 7% and a bank receives a deposit of $9000, how much of the $9000 is the bank free to lend?
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5 votes
If the reserve rate is 7% and a bank receives a deposit of $9000, how much of the $9000 is the bank free to lend?

asked
User Osama Buzdar
by
9.2k points

1 Answer

4 votes
.07 x $9,000= $630
$9,000-$630= $8,370 that the bank can lend
Hope this helps
answered
User Mservidio
by
7.8k points
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