Mathematics, 02.10.2020 14:01 raeprince9213

2. Assume Apex Savings Bank received three different deposits, and that the reserve rate was different at the time of each deposit.
(6 points: Part 1 - 2 points; Part II - 2 points; Part III - 2 points)
Part II: The second deposit that Apex Savings Bank received was $12,700. If Apex Savings
Bank was required to keep $571.50 on reserve, what was the reserve rate at the time? How
much was it free to loan out?

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