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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, how much can your $800 increase the amount of money in the economy? instructions: enter your answer as a whole number. $ 760

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abiolataiwo2015

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.

Learn more about amount of money here:https://brainly.com/question/24373500

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