National bank operates network of automated teller machines

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National Bank operates a network of automated teller machines (ATM). Assume that there are 52 weeks per year. Cash withdrawals at an ATM average about $83. The bank estimates that the fixed cost of filling an ATM with cash is about $96 regardless of the amount of cash put in. Average numbers of cash withdrawals per week is about 154. Average numbers of cash should the bank keep at an ATM if its annual cost of money is 11%?

How often should the bank replenish an ATM?

Reference no: EM131279480

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