Respuesta :
If the reserve rate is 7% and a bank receives a deposit of $9,000. How much of the $9,000 is the bank free to lend? $8,370
$8370 of the deposit money $9000 is the money the bank is free to lend given that the reserve rate is 7%. This is obtained by finding 7% of deposit money and subtracting the answer from the deposit money.
Calculate the money the bank is free to lend:
Given that, deposit = $9000
reserve rate = 7%
First we have to find 7% of $9000,
7% of $9000 = 7/100 × $9000
= $630
Money the bank is free to lend, $9000 - $630 = $8370
Hence $8370 of the deposit money $9000 is the money the bank is free to lend given that the reserve rate is 7%.
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