If the nominal interest rate is 3 percent and the cost of going to the ATM is $1.50, someone who has a 12 percent probability of having his cash lost or stolen and has a total cost of holding cash equal to (547.50/T) + (0.375 × T) spends _____daily.Assume that the individual visits the ATM once in every T days.
A)$20
B)$15
C)$10
D)$5

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The Answer of If the nominal interest rate is 3 percent and the cost of going to the ATM is $1.50, someone who has a 12 percent probability of having his cash lost or stolen and has a total cost of holding cash equal to (547.50/T) + (0.375 × T) spends _____daily.Assume that the individual visits the ATM once in every T days.
A)$20
B)$15
C)$10
D)$5

If the Nominal Interest Rate Is 3 Percent and the Cost