A couple has $$720,000$ in total savings. They want to ensure that all their funds are insured by the Federal Deposit Insurance Corporation $($FDIC$).$ Which strategy would accomplish this?

Select answer from the options below

Divide it equally into two individual deposit accounts at the same federally insured bank.

Keep $$500,000$ in a joint deposit account and invest $$220,000$ in a joint money market mutual fund account at the same federally insured bank.

Divide it equally into a joint deposit account and a money market mutual fund joint account at different federally insured banks.

Divide it equally into two joint deposit accounts at different federally insured banks.