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10 July, 00:59

Ramesh has $272,000 in a cd at a local bank. If the bank goes out of business what is the maximum amount he could loose

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  1. 10 July, 01:22
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    Complete Question:

    If the bank goes out of business what is the maximum amount he could lose if the bank has FDIC coverage?

    Answer:

    $22,000

    The FDIC covers $250,000 so the difference equals what he would loose.
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