Ask Question
30 September, 14:40

Solitary savings bank recieved an initial deposit of 2000$ it kept a percentage of this money in reserve based on the reserve rate and loaned out the rest. the amount it loaned out was eventually all deposited back into the bank if this cycle continued indefinitely and eventually the 2000$ turned into 40,000$ what was the reserve rate

+4
Answers (1)
  1. 30 September, 15:02
    0
    The answer is 2000 i think.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Solitary savings bank recieved an initial deposit of 2000$ it kept a percentage of this money in reserve based on the reserve rate and ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers