kiarairrizarri kiarairrizarri
  • 06-05-2017
  • Mathematics
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If the Federal Reserve decreases the reserve rate from 7% to 5%, how does this affect the amount of money that would result because of fractional-reserve banking from an initial deposit into a bank of $30,000?

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 06-05-2017
1/0.07=14.29
1/0.05=20
Then
20-14.29=5.71
5.71×30000==171,300 increased
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