FDIC. What is the FDIC? Why is FDIC insurance important?The FDIC is: (Select the best answer below.)A. The FDIC is the Federal Deposit Insurance Corporation that ensures bark accounts for up to $1 million.B. The FDAC is the Federal Deposit Insurance Corporation that ensures only checking accounts for up to $250,000.C. The FDIC is the Federal Deposit Insurance Corporation that ensures only savings accounts for up to $250.000.D. The FDIC is the Federal Deposit Insurance Corporation that ensures bank accounts for up to $250,000.Why is FDIC insurance important? (Select the best answer below.)A. FDIC insurance is needed so the public trusts the banks to have a higher interest rate and will therefore depesit money in a financial instition instead of keeping it in a safe or staffed in a mattress. The funds are then available to be borrowed by others.B. FDIC insurance is needed so the public has faith in the financial system and will therefore deposit money in a financial instituion instrad of leeping it in a safe or istiffed in a mattress. The funds are not available to be borrowed by others.C. FDIC insurance is needed so the public has faith in the financial system and will therefore deposit money in a financial instation instead of leeping it in a safe or shifted in a matress. The funds are then available to be borrowed by others. D. FDIC insurance is needed so the public has faith in tele financial system and will therefore keep money in a safe or shifted in mantess instead of iverping it in a financial institution. The funds are avalable to be borrowed by others.