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Assume that Everymans Bookstore uses up cash at a steady rate of $500,000 per year. The interest rate is 3% and each sale of securities
| Assume that Everymans Bookstore uses up cash at a steady rate of $500,000 per year. The interest rate is 3% and each sale of securities costs $30. |
| a. | How many times a year should the store sell securities? (Round your answer to 2 decimal places.) | ||
| Times per year times | |||
| b. | What is its average cash balance? (Round your answer to the nearest whole dollar.) | ||
| Average cash balance $ | |||
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Entrepreneurial Finance And Accounting For High-Tech Companies
Authors: Frank J Fabozzi
1st Edition
0262336901, 9780262336901
