Final answer:
Your brother's information regarding FDIC (Federal Deposit Insurance Corporation) or NCUSIF (National Credit Union Share Insurance Fund) coverage is partially accurate. Both FDIC and NCUSIF provide insurance coverage for deposits held in banks or credit unions, respectively, protecting the funds in case the institution fails. However, there are limits to the coverage:
Step-by-step explanation:
The subject of this question is Business at a High School level.
The question is regarding the insurance coverage on Ginny's account, specifically whether the FDIC or NCUSIF deposit insurance covers the funds on deposit and the accrued interest.
FDIC (Federal Deposit Insurance Corporation) and NCUSIF (National Credit Union Share Insurance Fund) are deposit insurance programs that protect depositors in banks and credit unions respectively.
They provide coverage for the funds on deposit, including both the principal and interest, up to certain limits.
Ginny's brother's statement is incorrect. The FDIC and NCUSIF deposit insurance programs cover both the funds on deposit as well as any accrued interest in Ginny's account.
The coimplete question is:content loaded
Suppose that ginny’s brother said that fdic or ncusif deposit insurance on ginny’s account covers the funds on deposit, but not her accrued interest. ginny’s brother’s information is