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Assume that Everyman's Bookstore uses up cash at a steady rate of $100,000 per year. The interest rate is 3% and each sale of
Assume that Everyman's Bookstore uses up cash at a steady rate of $100,000 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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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
