A firm has completed its projected cash budget for the next fiscal year. There is currently an upward sloping yield curve which implies that longer maturity investments yield a higher interest rate. Layout a plan to invest the marketable securities forecasted for the next year into treasury bills such that you are optimizing the potential interest earned over the planning horizon. Assume that all cash collections are received at the beginning of the month and all expenses are paid at the end of the month so that the full balance can be invested over the month in which it occurs.

FCST Jan FCST Feb FCST Mar FC ST April FCST May FCST June FCST July FC ST Aug FCST Sept FCST Oct FC ST Nov FCST Dec Marketable Securities $ 100.00 $ 186.00 $251.00 $ 368.00 $ 205.00 $ $ $425.00 $ 507.00 $ 125.00 $ Month Investment Amount and Corresponding Maturity Withdrawal Balance Jan $ Feb $ 100.00 Mar $ 186.00 April $ 251.00 May $368.00 June $ 205.00 July $ Aug S Sept $425.00 Oct 5 507.00 Nov $ 125.00 Dec $