Question

If the fdic has an insurance fund of 67.8 billion and must use 7.6% of it to cover several failed banks, approximately how much money is left in the fund?

Answer 1

Answer: There is 62,64,72,00,000 amount of money is left in the fund.

Step-by-step explanation:

Since we have given that

Total insurance fund of FDIC = 67.8 billions

Percentage of it  which it cover several failed banks = 7.6%

We need to find the amount of money left in the fund.

Remaining percentage is given by

$100-7.6=92.4\%$

So, Amount of money left in the fund is given by

$\frac{92.4}{100}\times 67.8\times 1000000000\\\\=0.924\times 67800000000\\\\=6.26472\times 10^{10}=62647200000$

Hence, there is 62,64,72,00,000 amount of money is left in the fund.

Answer 2

If you're using 7.6 percent, then you're not using 92.4 percent (100-7.6)

To find 92.4 percent of 67.8 billion do:
67,800,000,000*.924=62,647,200,000