3. The S&P 500 Index is down about 25% YTD (year to date), which makes a lot of people nervous but makes you excited because you have a long time before retirement and you have cash yet to be invested.

In your savings account with an FDIC-insured bank, you have $2,000, which you are reasonably sure that you won't need it for the next 10 years.

You believe in the long-term (10+ years), the S&P 500 index is likely, but not guaranteed, to compound at a rate higher than the 3% APY offered by the savings account. You decided to put $1,000 of your $2,000 to a S&P 500 Index fund. You opened a brokerage account, transferred $1,000 from your savings account to the brokerage account, and purchase some shares of a S&P 500 index fund.

Which of your account is FDIC-insured?

A. Both your savings account and your brokerage account

B. Your savings account

C. Your brokerage account

D. Neither your savings account nor your brokerage account