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?
a.
$5,153 million
b.
$57.49 billion
c.
$72.95 billion
d.
$62.65 billion

Question

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?
a.
$5,153 million
b.
$57.49 billion
c.
$72.95 billion
d.
$62.65 billion

anonymous · Answer

This question is actually quite simple, in math usually the word "of" indicates multiplication.  So if they need to keep a percentage *of* some number, we convert the percent to decimal form by moving the decimal two places to the left. Then we can get the answer by typing 678000000000 * .076 in your calculator.

anonymous · Answer

that's 9 zeros by the way