if the fdic has an insurance fund of $67.8 billion and must use 7.6% of it to cover several failed banks…

if the fdic has an insurance fund of $67.8 billion and must use 7.6% of it to cover several failed banks, approximately how much money is left in the fund?\na. $5,153 million\nb. $57.49 billion\nc. $72.95 billion\nd. $62.65 billion\nplease select the best answer from the choices provided

if the fdic has an insurance fund of $67.8 billion and must use 7.6% of it to cover several failed banks, approximately how much money is left in the fund?\na. $5,153 million\nb. $57.49 billion\nc. $72.95 billion\nd. $62.65 billion\nplease select the best answer from the choices provided

Answer

Explanation:

Step1: Calculate amount used

$67.8\times7.6%=67.8\times0.076 = 5.1528$ (billion)

Step2: Calculate amount left

$67.8 - 5.1528=62.6472\approx62.65$ (billion)

Answer:

D. $62.65$ billion