If the NCUA charges 6.3 cents per 100 dollars insured and Credit Union L pays $8,445 in NCUA insurance premiums, approximately how much is in Credit Union L’s insured deposits?

The premium rate is $0.063 for each $100 insured, which is a rate of 0.00063 of the total deposits. Divide the $8,445 premium by 0.00063 to get about $13,404,762 in insured deposits. That is approximately $13.4 million, choice C.

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