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If the reserve requirement for commercial banking in Nigeria were 30%, a commercial ...

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?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A N9,000
  • B N3,330
  • C N2,770
  • D N2,100
Correct Answer: Option D
Explanation:

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