Multiple Choice
If the cost of going to the ATM is $2 and the nominal interest rate is 1 percent, someone who has a 9 percent probability of having his cash lost or stolen and spends $15 each day will go to the ATM once in every ____ days approximately.
A) 25
B) 31
C) 37
D) 43
Correct Answer:
Verified
Correct Answer:
Verified
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