Question

Dylan has $286,000 in a CD at a local bank. If the bank goes out of business what is the maximum amount he could lose? (Assume that the bank is insured by the FDIC for up to $250,000.)

Answer 1

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Answer:

$36,000

Explanation:

$250,000 will be the amount paid by the FDIC, so Dylan stands to lose ...

$286,000 -250,000 = $36,000