Tameka Owns a Small Business and Has Two Accounts at the Local

question 56

Multiple Choice

Tameka owns a small business and has two accounts at the local bank, which is CDIC insured. Her personal savings account has $125,000, and an account for her investments has $285,000. If the local bank fails, how much will Tameka receive from the FDIC?

• A) $125,000
• B) $410,000
• C) $100,000
• D) $285,000

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Definitions:

Economic Questions

Fundamental questions that societies address regarding allocation of resources and distribution of goods and services; typically includes "what to produce," "how to produce," and "for whom to produce."

Particular Goods

Specific items or products that are distinguished by their unique features, functions, or qualities from general or generic goods.

Discount Rate

The interest rate used to determine the present value of future cash flows in discounted cash flow analysis.

Cash Flows

The movement of funds in and out of a company or financial entity, crucial for assessing its financial health.