Xavier Deposited $75,000 in Various Individual Accounts at His Local

question 162

Multiple Choice

Xavier deposited $75,000 in various individual accounts at his local credit union. He and his wife also have a joint savings account worth $34,500. What portion of these deposits is insured?

• A) $0, because the NCUA does not insure individual credit union deposits.
• B) $73,220
• C) $100,000
• D) $109,500

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Definitions:

Exchange Rate

The worth of one currency when converted into another, establishing the amount one currency is valued in comparison to another.

Percentage

A proportion or share in relation to a whole, represented as a fraction of 100.

Strengthens

Becomes stronger or more forcefully effective.

C$

Currency symbol for the Canadian dollar, the official currency of Canada.