If the fdic charges bank e 2.4 cents per 100 dollars insured, how much must bank e pay to insure $4.8 million in deposits?
a. $1,152
b. $115,200
c. $2,112
d. $211,200

If a bank charges 2.4 cents per $100, then you should count how many $100 will be in $4.8 million.

Since $4.8 million = $4,800,000, then

- the number of $100 in $4.8 million.

Now multiply 48,000 by 2.4 cents to get the amount of cents earned:

cents.

You know that 100 cents = $1, then 115,200 cents is $1,152.

correct choice is A

7. d. 64

8. i. 32

9. c. 125

10. j. none of the above

11. d. 81

12. i. 216

13. e. none of the above

14. g. 240

15. e. none of the above

16. g. 32

17.   e. none of the above