SOLUTION: How often to go to the ATM when the nominal interest rate on my bank account is 10 percent, spends $30 each day, it costs $0.50 each time I use the ATM, and I think that there is a
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Question 612707: How often to go to the ATM when the nominal interest rate on my bank account is 10 percent, spends $30 each day, it costs $0.50 each time I use the ATM, and I think that there is a 15 percent chance that I will lose my cash or have it stolen. Under these conditions, how often do I go to the ATM, and how much cash do I take out each time? Answer by richwmiller(17219) (Show Source):
You can put this solution on YOUR website! You go when you need it or write a check.
Thinking that there is a 15% chance of losing or being robbed is not fact.
There is no place that pays 10% interest on a savings nor checking account.
