Question

Ursula is a customer of Apexon Bank, which is a member of the FDIC. She has $13,987 in a checking account and $240,000 in her savings. How much of Ursula's money is FDIC-protected?

Answer 1

The answer to this question is $250,000. It is because in the rules of the FDIC (Federal Deposit Insurance Corporation) they follow a standard insurance amount of $250,000 that is why I have come up with that answer. FDIC also caters to money market deposit accounts and certificate of deposit.

Answer 2

Answer:

The answer is $250,000. It is because in the rules of the FDIC (Federal Deposit Insurance Corporation) they follow a standard insurance amount of $250,000.

Explanation: