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HotFoot Shoes would like to maintain its cash account at a minimum level of $25,000 but expects the standard deviation in net daily cash flows
HotFoot Shoes would like to maintain its cash account at a minimum level of $25,000 but expects the standard deviation in net daily cash flows to be $2,000, the effective annual rate on marketable securities to be 3.5 percent per year, and the trading cost per sale or purchase of marketable securities to be $200 per transaction
what will be its optimal upper cash limit? (use 365 days a year. Do not round intermediate calculations. Round your answer to two decimal places)
please show how to do on calculator as well
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