what was the reserve rate? How much is the bank free to loan out?-its a ratio 571.50 / 12,700.00 = a rate of 0.......
Apex Bank received $12,700. If Apex Savings Bank was required to keep $571.50 on reserve, what was the reserve rate? How much is the bank free to loan out?
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its a ratio 571.50 / 12,700.00 = a rate of 0.045
12,700-571.50=$12,128.50
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