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\na\nb\nc\nd

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\na\nb\nc\nd

Answer

Explanation:

Step1: Calculate the amount used

The amount used is 7.6% of $67.8$ billion. So, $67.8\times0.076 = 5.1528$ billion.

Step2: Calculate the remaining amount

The remaining amount is the total amount minus the amount used. So, $67.8 - 5.1528=62.6472\approx62.65$ billion.

Answer:

D. $62.65$ billion