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Fiona deposit $2,000 into saving account. If the Fed requires a 20 percent reserve ratio, how much of Fiona’s money can the bank lend?

Fiona deposit $2,000 into saving account. If the Fed requires a 20 percent reserve ratio, how much of Fiona’s money can the bank lend?
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4 votes
Fiona deposit $2,000 into saving account. If the Fed requires a 20 percent reserve ratio, how much of Fiona’s money can the bank lend?

User RyanJohnstone
by
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2 Answers

4 votes
20% of 2000 =400
2000-400=1600
Fionas bank can lend $1600
User Manikanta
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8.1k points
3 votes

Answer:

$ 1,600

Step-by-step explanation:

User Trigoman
by
8.3k points
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