2
QuizMultiple Choice

Government Agencies

Question 2 • POP Financial Math 26/27

If the FDIC charges Bank D 6.1 cents per 100 dollars insured, how much must Bank D pay to insure $7.3 million in deposits?

Answer
A
$4,453,000
B
$445,300
C
$4,453
D
$445.30

Explanation

The charge is 6.1 cents, or $0.061, for each $100 insured. There are $7,300,000 ÷ $100 = 73,000 groups of $100, so the total cost is 73,000 × $0.061 = $4,453. Bank D must pay $4,453, which is choice c.

AI-written and checked against the verified answer.

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