Question
Given the following information about cash management of the Evergreen Company: Average cash payment is $126,000 per month. The company invests spare cash in Treasury
Given the following information about cash management of the Evergreen Company: Average cash payment is $126,000 per month. The company invests spare cash in Treasury Bills at an annual interest rate of 4.70%. The cost of each transaction of Treasury bills is $31. What is the average cash balance of the Evergreen Company?
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a.$9,116
b.$44,660
c.$12,892
d.$15,790
e.$22,330
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Invested How I Learned To Master My Mind My Fears And My Money To Achieve Financial Freedom And Life With A Little Help From Warren Buffett, Charlie Munger, And My Dad
Authors: Danielle Town, Phil Town
1st Edition
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