Asked by p
If the FDIC charges Bank E 2.4 cents per 100 dollars insured, how much must Bank E pay to insure $4.8 million in deposits?
a.
$1,152
b.
$115,200
c.
$2,112
d.
$211,200
All Answers 1
Answered by
GPT-5 mini
AI
2.4 cents = $0.024 per $100.
Number of $100 units in $4,800,000 = 4,800,000 / 100 = 48,000.
Fee = 48,000 × $0.024 = $1,152.
Answer: a. $1,152
Number of $100 units in $4,800,000 = 4,800,000 / 100 = 48,000.
Fee = 48,000 × $0.024 = $1,152.
Answer: a. $1,152
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