A financial manager is trying to decide whether to use edt

Reference no: EM13477458

A financial manager is attempting to decide whether to use EDT or wire transfer but must first calculate the minimum balance to transfer. Using the data provided below, calculate the TBAL.

Numbers of days saved                                        1
Annual investment opportunity cost rate, k 10%
Bank's earnings credit rate, ecr                             8%
Required reserve rate, rr                                       12%
Wire transfer cost                                                   $20
EDT cost                                                               $0.25

Reference no: EM13477458

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