question 8\nyou have $500,000 to deposit in a bank account. what should you do with this deposit to be…

question 8\nyou have $500,000 to deposit in a bank account. what should you do with this deposit to be certain it is insured?\nsplit it in half and deposit it in two separate savings accounts at different commercial banks\ndeposit all of the money in one savings account in a commercial bank\ndeposit all of the money in one checking account in a commercial bank\nsplit it in half and deposit it in two separate savings accounts at different brokerage firms.

question 8\nyou have $500,000 to deposit in a bank account. what should you do with this deposit to be certain it is insured?\nsplit it in half and deposit it in two separate savings accounts at different commercial banks\ndeposit all of the money in one savings account in a commercial bank\ndeposit all of the money in one checking account in a commercial bank\nsplit it in half and deposit it in two separate savings accounts at different brokerage firms.

Answer

Brief Explanations:

In the United States, the Federal Deposit Insurance Corporation (FDIC) insures deposits in commercial - bank accounts up to $250,000 per depositor, per insured bank. To ensure a $500,000 deposit is fully insured, splitting it in half and depositing in two separate savings accounts at different commercial banks would work as each $250,000 deposit would be insured. Brokerage firms are not the same as commercial banks for deposit - insurance purposes, and depositing all in one account (savings or checking) in a single commercial bank would only insure up to $250,000.

Answer:

Split it in half and deposit it in two separate savings accounts at different commercial banks