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?
- A. N9,000
- B. N3,330
- C. N2,770
- D. N2,100
Correct Answer: D. N2,100
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