Cash Flow Management. A financial manager is managing a cash fund. His investment

alternatives available are various certificates of deposit, also known as CDs, as

listed in the following table:

Investment Yield Availability 1-month CD 0.5% Beginning of each month 3-month CD 1.75% Beginning of Months 1, 2, 3, 4 6-month CD 2.3% Beginning of Month 1Month Net Expenditures ($1,000s) $45 ($11) $25 ($22) $43 ($15)