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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
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Correct Answer: Option D
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