Question: please answer as soon as possible Suppose that your weekly cash expenses are $70. Every time you withdraw money from the automated teller at your

please answer as soon as possible

Suppose that your weekly cash expenses are $70. Every time you withdraw money from the automated teller at your bank, you are charged $0.1. Your bank account pays interest of 3% annually. a. How often should you withdraw funds from the bank? (Round your answer to 2 decimal places.) You should go to the bank about once every week(s). b. What is the optimal-sized withdrawal? (Round your answer to the nearest whole dollar.) Optimal-sized withdrawal c. What is your average amount of cash on hand? (Round your answer to the nearest whole dollar.) Average amount of cash on hand $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Saved Sup our weekly cash expenses are $70. Every time you withdraw money from the automated teller at your bank, you are charged sun. Your bank account pays interest of 1% annually. o. How often...

1 Suppose that your weekly cash expenses are $70. Every time you withdraw money from the automated teller at your bank, you are charged $0.1. Your bank account pays interest of 3% annually, a. How...

Suppose that your weekly cash expenses are $70. Every time you withdraw money from the automated teller at your bank, you are charged $0.1. Your bank account pays interest of 1% annually. a. How...

Round your answer to two decimal points, Suppose that your weekly cash expenses are $90, Every time you withdraw money from the automated teller at your bank, you are charged $0.15, Your bank account...

HELP NEEDED PLEASE Suppose that your weekly cash expenses are $90. Every time you withdraw money from the automated teller at your bank you are charged $0.1. Your bank account pays interest of 4%...

A firm maintains a separate account for cash disbursements. Total disbursements are $88,000 per month, spread evenly over the month. Administrative and transaction costs of transferring cash to the...

whats the answer? Suppose that your weekly cash expenses are $80. Every time you withdraw money from the automated teller at your bank, you are charged $0.1. Your bank account pays interest of 2%...

Suppose that your weekly cash expenses are $100. Every time you withdraw money from the automated teller at your bank, you are charged $0.1 Your bank account pays interest of 3% annually a. How often...

Suppose that your weekly cash expenses are $60. Every time you withdraw money from the automated teller at your bank, you are charged $0.1. Your bank account pays interest of 1% annually. a. How...

Suppose that your weekly cash expenses are $100. Every time you withdraw money from the automated teller at your bank, you are charged $0.1. Your bank account pays interest of 1% annually. a. How...

Assume the sequence generated by u0 = 450 and un = (1 + 0.039)un- 1 + 50 where n 1 represents a financial situation and n is measured in years. a. Is this a loan or an investment? Explain your...

9. The point P is the intersctin of the straight line joining the points Q(2, 3, 5) and R(1,1,4) with the plane 5x 4y -z=1. If Sis the foot of the perpendicular drawn from the point T(2, 1, 4) to...

The Pension Benefit Guarantee Corporation ( PBGC ) provides coverage to defined contribution plans, but it does not cover defined benefit pension plans of professional services corporations with 2 5...

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...