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Problem 21-16 Optimal Cash Balances (L04) Suppose that your weekly cash expenses are 580. Every time you withdraw money from the automated teller at your

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Problem 21-16 Optimal Cash Balances (L04) Suppose that your weekly cash expenses are 580. Every time you withdraw money from the automated teller at your bank you are charged 50 25. Your bank account pays Interest of 3% annually a. How often should you withdraw funds from the bank? (Round your answer to 2 decimal places.) You should go to the bank about once every week(s) b. What is the optimal-sized withdrawal? (Round your answer to the nearest whole dollar) Optimal-sized withdrawals c. What is your average amount of cash on hand? (Round your answer to the nearest whole dollar:) Average amount of cash on hand

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