Connie has $666,000 she wants to save. If the FDIC insurance limited per deposited, per bank, is $250,000, which of these ways of distributing her money between three banks will guarantee that all of her money is insured?

A.) $222,000 in bank A, $160,00 in bank B, 280,000 in bank C

B.) $222,000 in bank A, $300,000 in bank B, $140,000 in bank C

C.) $180,000 in bank A, $240,000 in bank B, $240,000 in bank C

D.) $180,000 in bank A, $220,000 in bank B, $260,000 in bank C

Question

Business

Steve Le

19 April, 04:16

Connie has $666,000 she wants to save. If the FDIC insurance limited per deposited, per bank, is $250,000, which of these ways of distributing her money between three banks will guarantee that all of her money is insured?

A.) $222,000 in bank A, $160,00 in bank B, 280,000 in bank C

B.) $222,000 in bank A, $300,000 in bank B, $140,000 in bank C

C.) $180,000 in bank A, $240,000 in bank B, $240,000 in bank C

D.) $180,000 in bank A, $220,000 in bank B, $260,000 in bank C

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Answers (1)

Know the Answer?

Jorge Barnett · Answer 1

C.) $180,000 in bank A, $240,000 in bank B, $240,000 in bank C

Explanation:

As the FDIC insurance limited per deposited amount in each bank to the limit of $250,000 at a time. There in order to get her money insured fully Connie should deposit $180,000 in bank A, $240,000 in Bank B, And $240,000 in Bank C.

As the maximum limit is $250,000 no amount should exceed this amount. Hence this is the correct distribution.