Question

In 2007, the FDIC’s insurance limit was $100,000 per person per bank. Approximately 62% of Gil’s deposits were insured by the FDIC. Which of the following was a possible setup for Gil’s deposits

Answer 1

The correct answer is D

Answer 2

Here is the answer to the given question above:
A $108,000 savings account and $46,000 CD at Bank T; a $36,000 money market account and $38,000 CD at Bank U; a $63,000 checking account, $80,000 savings account, and $70,000 money market account at Bank V.
FDIC or Federal Deposit Insurance Corporation supervises state-chartered banks that are not members of the Federal Reserve System (Fed), and insures deposits at banks and savings and loans.