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__ 20. customer deposits in a federally insured bank are insured up to what amount? a. 100,000 b. 200,000 c. 250,000 d. 500,000

Question

__ 20. Customer deposits in a federally insured bank are insured up to what amount? A. 100,000 B. 200,000 C. 250,000 D. 500,000

Answer

4.2 (268 Votes)
Verificación de expertos
Aurora Master · Tutor for 5 years

Answer

C

Explanation

## Step 1: Understand the question. The question is asking about the maximum amount that the Federal Deposit Insurance Corporation (FDIC) insures for customer deposits in a federally insured bank.## Step 2: Recall the information about FDIC insurance limits. The FDIC is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. As of the last update, the FDIC insures deposits up to 250,000.