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ne Lert.20.12 C OLELLIP Question 7 (1 point) True or false: The Federal Reserve currently insures up to $250,000 worth of los
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Answer #1

1: TRUE

The Federal Reserve insures checking, savings accounts, and individual retirement accounts for an amount upto $250000 per person.

2: Both interest and fees

A finance charge represents both fees and interest. It is the charge on amount deposited and expenses incurred for maintaining the amount in the account.

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