If you decide to take $800 out of your piggy bank at home and place it in the bank. if the reserve requirement is 5 percent, The amount your $800 can the amount of money in the economy is $15,200.
How to find the amount of money?
Firs step is to find the reserve requirement
Reserve requirement = (800×0.05)
Reserve requirement = 40
Second step is to find the amount of money
Amount of money = (800-40) × 800/40
Amount of money =760 ×20
Amount of money = $15,200
Therefore the amount of money is $15,200.
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