Based on the firm's current practice, how many times during the next 3 months will the cash balance be replenished?

Question

Quizplus · Accepted Answer

The cash balance is replenished whenever it falls below $10,000, which happens about 4.42 times per month (13.26/3). Therefore, over the next 3 months, the cash balance will be replenished approximately 3 x 4.42 = 13.26 times. Rounded to the nearest whole number, this is 13 times. Therefore, the best choice is C, 4.42 times.

Based on the Firm's Current Practice, How Many Times During