How often to go to atm when norminal interest rate is higher

Reference no: EM13205788

Solve Tracy's problem of how often to go to the ATM when the norminal interest rate on her bank account is 10%, she spends $30 each day, it costs her $0.50 each time she uses the ATM, and she thinks that there is a 15% chance that she will lose her cash or have it stolen. Under these conditions, how often does Tracy go to the ATM, and how much cash does she take out each time?

Reference no: EM13205788

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