Question

Felicia had $150,000 in a CD at Gravy Train Bank, which just failed. If the FDIC

Answer 1

Answer:

$150,000

Step-by-step explanation:

Just took it on apex

Answer 2

Answer:

$150,000

Step-by-step explanation:

It is given that Felicia had $150,000 in a CD at Gravy Train Bank, which just failed. If the FDIC insurance limit per depositor, per bank, is $250,000.

It means the FDIC insurance company will settle the loss till $250,000.

If the deposited amount of Felicia is less than $250,000, then she will get her total deposited amount and if the deposited amount is greater than or equal to $250,000, then she will get only $250,000.

$150,000 < $250,000

Since the deposited amount of Felicia is $150,000, which is less than $250,000, therefore she will get her total deposited amount, i.e., $150,000.