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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? a) $400  b) $1,600 c) $2,000 d) $1,200…

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? a) $400  b) $1,600 c) $2,000 d) $1,200…
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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? a) $400  b) $1,600 c) $2,000 d) $1,200

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User Itako
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7.9k points

2 Answers

6 votes
the answer is 400 or 1600 
answered
User NateJ
by
8.6k points
4 votes

Answer: B: $1,600

Explanation:


answered
User Shalimar
by
8.2k points
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