Ross has a checking account with $50,000 and savings account with $250,000 at SunTrust Bank. He...
- Ross has a checking account with $50,000 and savings account with $250,000 at SunTrust Bank. He has an IRA account at SunTrust Bank with $500,000 in it. He and his wife have a certificate of deposit at SunTrust Bank worth $100,000. How much would FDIC insurance pay if SunTrust Bank failed?
Homework Answers
Answer) $500,000
- if SunTrust bank fails, FDIC insurance will pay $250,000 each to husband and wife.
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Ross has a checking account with $50,000 and savings account
with $250,000 at SunTrust Bank. He...
1. Calculate the amount of FDIC coverage for each of the following situations where all of...
1. Calculate the amount of FDIC coverage for each of the following situations where all of your banks are insured with FDIC; A. You are single and do your banking in one place. You have $50,000 in a checking account, $100,000 in a savings account and $200,000 in CDs, for a total of $350,000 in deposits. B. You are single and do your banking in two banks. You have $150,000 in a checking account in one bank, $250,000 in a...
GREAT START COMMUNITY BANK Savings Rates Regular Passbook Interest Rates 0.10% **Money Market Savings or Checking...
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Say I move $100 from my savings account to my checking account. Which of the following...
Say I move $100 from my savings account to my checking account. Which of the following is true? O M1 increases while M2 decreases M1 increases while M2 stays the same O M1 and M2 both increase M1 and M2 both decrease Question 17 (12 points) Which of the below was most responsible for the virtual elimination of bank runs in the US? lower discount rates FDIC deposit insurance lower reserve requirements deregulation of the banking sector
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how does it affect m1& m2? 1. Ted Mosby receives $125,000 after his certificate deposit (time...
how
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Jane currently has $5,100 in her savings account and $2,000 in her checking account at the...
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Katherine Kocher has determined the following information about her own financial situation. Her checking account is...
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Mr. Midas has wealth of $100,000 that he invests entirely in money (a checking account) and...
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Brad has nothing in his savings account right now, but realizes it would be very good...
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1. Allen Paige is planning to invest $10,000 in a bank certificate of deposit (CD) for...
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1. Calculate the amount of FDIC coverage for each of the following situations where all of your banks are insured with FDIC; A. You are single and do your banking in one place. You have $50,000 in a checking account, $100,000 in a savings account and $200,000 in CDs, for a total of $350,000 in deposits. B. You are single and do your banking in two banks. You have $150,000 in a checking account in one bank, $250,000 in a...
Say I move $100 from my savings account to my checking account. Which of the following is true? O M1 increases while M2 decreases M1 increases while M2 stays the same O M1 and M2 both increase M1 and M2 both decrease Question 17 (12 points) Which of the below was most responsible for the virtual elimination of bank runs in the US? lower discount rates FDIC deposit insurance lower reserve requirements deregulation of the banking sector
3. Checking Account Balance. Andy has an account at South Central Savings and Loan. He does not track his checking account balance on a checkbook register. Yesterday evening, he placed 2 checks in the mail, one for $189 and another for $237. Andy accesses his acccount online and finds that his balance was $538, and all the checks he has written except for the 2 checks from yesterday have cleared. Andy doesn't plan on withdrawing any money from the account...
how
does it affect m1& m2?
1. Ted Mosby receives $125,000 after his certificate deposit (time deposit) with Goliath National Bank (GNB) matures. He also receives another $400,000 after selling the shares of Prime Reserve fund, a money market mutual fund. At the same time, he also receives $100,000 after selling his Microsoft shares in the stock market. He uses these receipts in the following way: he uses $75,000 to buy treasury bills. He invests $100,000 in google shares. He...
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