Tyson Furniture has $100,000 in excess cash that it wants to invest in one or more cash
Question:
All of these accounts are FDIC insured for up to $250,000. Suggest how Tyson Furniture might allocate its $100,000 cash among these four opportunities.
Discuss the trade-offs that management must consider.
Transcribed Image Text:
Penalty for Early Withdrawal? Minimum Interest Rate Investment Type Investment Institution Financial Risk Investment Citizens Trust Bank Bank of America Wells Fargo Commerce Bank Money market account Money market account 90-day CD 90-day CD $ 100 Very low Very low Very low Very low 0.05% 0.03 No No Yes Yes 25 2,500 2,500 0.01 0.15
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The highest interest rates are offered by Citizens Trust Bank and Commerce Bank both are offering 00...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-1259692390
17th edition
Authors: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello
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