Question

Connie has $660,000 she wants to save. If the FDIC insurance limit per

Answer 1

Answer:

The answer would be D) $180,000 in bank A, $240,000 in bank B, $240,000 in bank C.

Step-by-step explanation:

You can immediately eliminate A, B and C because the question clearly states that the limit per bank is $250,000.

Answer 2

Answer:

D. $180,000 in bank A, $240,000 in bank B, $240,000 in bank C

Step-by-step explanation:

She needs to deposit less than $250,000 in each bank in order to be able to have that sum of money insured, in this case she could deposit it this way:

$250,000

$250,000

$160,000

But that could be too risky and too on the verge of not being accepted, you she just takes $10,000 out of every $250,000 deposits to make them $240,00, and add it to the $160,000 deposit, so she is left with three deposits of:

$240,000

$240,000

$180,000

And with this she makes sure all of her deposits are insured by staying below the $250,000 limit.