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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

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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

__ 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

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AuroraMaster · Tutor for 5 years

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C

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## Step 1: <br />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.<br /><br />## Step 2: <br />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 per depositor, per insured bank, for each account ownership category.<br /><br />## Step 3: <br />Compare the FDIC insurance limit with the options given in the question. The correct answer is the option that matches the FDIC insurance limit, which is $250,000.
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