If the reserve requirement for commercial banking in Nigeria were 30%, a commercial bank which…

Economics JAMB 1998

If the reserve requirement for commercial banking in Nigeria were 30%, a commercial bank which receives an initial cash deposit of N3000 is in a position to lend out?

  • N9,000
  • N3,330
  • N2,770
  • N2,100 checkmark

The correct answer is: D

Explanation

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