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Q: You decide to open a savings account, and you notice a sign in your bank that indicates deposits are FDIC insured. What protection does that give you? a. If the bank fails, your deposits are
protected up to $250,000. b. If you accidentally injure someone, they cannot claim any of the first $250,000 of your bank deposits as compensation. c. Your deposits are guaranteed a certain rate of interest if you have at least $250,000 in the bank. d. If you accidentally withdraw more money that you have in your account, you will not have to pay a penalty.
A: c. Your deposits are guaranteed a certain rate of interest if you have at least $250,000 in the bank.
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Original conversation
User: Which of the following is not a function of financial institutions? a. storing money c. loaning money b. saving money d. all of the above are functions of financial institutions.

User: You decide to open a savings account, and you notice a sign in your bank that indicates deposits are FDIC insured. What protection does that give you? a. If the bank fails, your deposits are protected up to $250,000. b. If you accidentally injure someone, they cannot claim any of the first $250,000 of your bank deposits as compensation. c. Your deposits are guaranteed a certain rate of interest if you have at least $250,000 in the bank. d. If you accidentally withdraw more money that you have in your account, you will not have to pay a penalty.

Weegy: c. Your deposits are guaranteed a certain rate of interest if you have at least $250,000 in the bank.
lakki|Points 61|

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Asked 7/30/2013 11:18:33 AM
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