115k views
1 vote
Ursula is a customer of Apexon Bank, which is a member of the FDIC. She has $13,987 in a checking account and $240,000 in her savings. How much of Ursula's money is FDIC-protected?

User Nandana
by
8.4k points

2 Answers

5 votes

Answer:

The answer is $250,000. It is because in the rules of the FDIC (Federal Deposit Insurance Corporation) they follow a standard insurance amount of $250,000.

Step-by-step explanation:

User Bhavesh Rangani
by
8.7k points
4 votes
The answer to this question is $250,000. It is because in the rules of the FDIC (Federal Deposit Insurance Corporation) they follow a standard insurance amount of $250,000 that is why I have come up with that answer. FDIC also caters to money market deposit accounts and certificate of deposit.
User Aric Lasry
by
8.3k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.