rajayadav6559 rajayadav6559

13-12-2019
Mathematics

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Ramesh has $272,000 in a cd at a local bank . If the bank goes out of business what is the maximum amount he could loose

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marialejandray marialejandray

13-12-2019

Complete Question:

If the bank goes out of business what is the maximum amount he could lose if the bank has FDIC coverage?

Answer:

$22,000

The FDIC covers $250,000 so the difference equals what he would loose.

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