The desired reserve ratio is 3 percent.Robert deposits $3,000 in Bank America.Bank America keeps its minimum desired reserves and lends the excess to Fredrica.How much does Bank America lend to Fredrica?
A)$3,000
B)$2,910
C)$300
D)$2,700
E)$900

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The Answer of The desired reserve ratio is 3 percent.Robert deposits $3,000 in Bank America.Bank America keeps its minimum desired reserves and lends the excess to Fredrica.How much does Bank America lend to Fredrica?
A)$3,000
B)$2,910
C)$300
D)$2,700
E)$900

The Desired Reserve Ratio Is 3 Percent