If the NCUA pays \$1.92 billion to cover several failed credit unions, and doing so drains its reserve fund by 8.42%, approximately how much was in the fund to begin with? a. \$24.7 billion b. \$22.8 billion c. \$20.9 billion d. \$19.0 billion
If the NCUA pays \$1.92 billion to cover several failed credit unions, and doing so drains its reserve fund by 8.42%. To get the amount of fund needed to begin with is divide \$1.92 billion by 8.42% and multiply it by 100. [ The solution would be like this: (\$1,920,000,000/8.42) x 100 = \$22,802,850,356.3. So, the answer is \$22.8 billion. ]
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Updated 5/9/2014 6:10:03 AM
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