lisawhitley91571 lisawhitley91571

21-09-2022
Business

Answered

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 please select the best answer from the choices provided a b c d

Answer :

qwdeepblue qwdeepblue

24-09-2022

According to the information provided, $22.8 billion was the initial balance of the fund.

Funds raised:Using this equation

Fund amount=Amount paid by credit unions/Percentage of reserve fund

Amount paid by credit unions: $1.92 billion

8.42%, or 0.0842, is the reserve fund percentage.

Let's enter the formula.

Fund amount=1.92 billion divided by 0.0842

$22.8 billion is the fund amount.

Inconclusion The initial balance of the fund was $22.8 billion.

To know more about Funds raised refer to https://brainly.com/question/17645621

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