Shelly is a customer of apex bank, which is a member of the fdic. she has $11,564 in a checking account and $10,000 in a savings account. how much of shelly's money is fdic-protected?

Total $21,564 of Shelly's money is protected by FDIC.

Step-by-step explanation:

It is given that Shelly is a customer of Apex Bank, which is a member of the FDIC.

She has $11,564 in a checking account and $10,000 in a savings account.

Total amount of Shelly's money deposited in the Apex bank is

We know that the FDIC covers the checking account, savings accounts and traditional types of bank deposit accounts. FDIC coverage limit is $250,000.

Therefore the $21,564 of Shelly's money is protected by FDIC.

560

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