Question

Thelma had $130,000 in a cd at mucho dinero bank, which just failed. if the fdic insurance limit per depositor, per bank, is $250,000, how much will thelma get back?

Answer 1

130000 becaus of math and other studd idk thats the answe for me A

Answer 2

Answer:

$130,000

Explanation:

The Federal Deposit Insurance Corporation (FDIC) is a federal agency that provides deposit insurance to customers of FDIC insured banks. Not all bank accounts are covered by FDIC insurance: negotiable order of withdrawal (NOW), money market deposit accounts (MMDA), checking, savings, and certificate of deposit (CD) accounts are all protected.

In the event of a FDIC insured bank failing, the FDIC will try to arrange the sale of the failed bank to another bank (one that is not under financial stress) and it will pay the depositors directly up to a limit of $250,000 per account type and per depositor. The maximum money insured per single depositor (who holds several accounts) is $1 million.