Multiple Choice
If the cost of going to the ATM is $1 and the nominal interest rate is 5 percent, someone who has a 15 percent probability of having his cash lost or stolen and spends $10 each day will go to the ATM once in every ____ days approximately.
A) 10
B) 13
C) 16
D) 19
Correct Answer:
Verified
Correct Answer:
Verified
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