Question

If the NCUA charges 6.3 cents per 100 dollars insured and Credit Union L pays $8,445 in NCUA insurance premiums, approximately how much is in Credit Union L’s insured deposits? a. $1.2 million b. $5.3 million c. $13.4 million d. $20.6 million

Answer 1

13.4 MILLION

Step-by-step explanation:

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Answer 2

$8,445 = 844,500 cents
844,500 : 6.3 = 134,047.61
134,047.61 · 100 = $13,404,761 ≈ $13.4 million
Answer:
C ) $13.4 million