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A customer has a significant amount of money in bank deposit accounts: $225,000 in a savings account titled in the customer's name; $240,000 in a checking account titled jointly with a spouse; and $100,000 in an account where the customer is custodian for a grandchild. Should that bank fail, the Federal Deposit Insurance Corporation (FDIC) insurance would cover

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Answer:

$565,000 entire

Explanation:

The Federal Deposit Insurance Corporation provides deposit insurance that guarantees the protection of a depositor 's deposits in member banks up to $250,000 for each type of deposit ownership of each insured bank.

Each one of the listed accounts i.e  Savings, Checking, and Custodial represents the different category of ownership under the Federal Deposit Insurance Corporation rule, thus covering all of the money in each.

Therefore the total amount i.e

= $225,000 + $24,000 + $100,000

= $565,000

This whole amount would covered

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