Question

If the NCUA pays $1.36 billion to cover several failed credit unions, and doing so drains its reserve fund by 5.18%, approximately how much was in the fund to begin with?

Answer 1

%xwhole=part
0.0518w=1.36
1.36/0.0518=26.254 billion

Answer 2

Answer:

26.25 billion

Step-by-step explanation:

The NCUA pays to cover several failed credit unions = $1.36 billion

That fund is approximately 5.18% of the reserve fund.

Let the amount of the fund was in the beginning = x

Therefore, 5.18% of x = 1.36 billion

= $\frac{5.18}{100}$x = 1,360,000,000

0.0518x = 1,360,000,000

x = $\frac{1,360,000,000}{0.0518}$

x = 26,254,826,300 ≈ 26.25 billion

NCUA had approximately 26.25 billion in the fund to begin with.