If the cost of going to the ATM in an economy is $1 and the nominal interest rate is 5 percent, someone who spends $10 each day and has the total cost of holding cash = (365/T) + T, has a _____stolen.Assume that the individual visits the ATM once in every T days.
A)5 percent
B)10 percent
C)15 percent
D)20 percent

Question

If the cost of going to the ATM in an economy is $1 and the nominal interest rate is 5 percent, someone who spends $10 each day and has the total cost of holding cash = (365/T) + T, has a _____stolen.Assume that the individual visits the ATM once in every T days.
A)5 percent 
B)10 percent
C)15 percent
D)20 percent

Quizplus · Accepted Answer

The Answer of If the cost of going to the ATM in an economy is $1 and the nominal interest rate is 5 percent, someone who spends $10 each day and has the total cost of holding cash = (365/T) + T, has a _____stolen.Assume that the individual visits the ATM once in every T days.
A)5 percent 
B)10 percent
C)15 percent
D)20 percent

If the Cost of Going to the ATM in an Economy