If the Cost of Going to the ATM Is $1

question 52

Multiple Choice

If the cost of going to the ATM is $1 and the nominal interest rate is 5 percent, someone who has a 15 percent probability of having his cash lost or stolen and spends $10 each day will go to the ATM once in every ____ days approximately.

• A)10
• B)13
• C)16
• D)19

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Definitions:

Bipolar Disorder

A mental disorder characterized by significant mood swings, including manic highs and depressive lows.

Suicide

The act of intentionally causing one's own death, often as a result of mental illness such as depression or schizophrenia.

Nutraceutical

A food product or food ingredient that purports to provide health and medical benefits, including the prevention and treatment of disease.

Mild Depression

A less severe form of depression where individuals may experience persistent sadness, hopelessness, and lack of interest or pleasure in daily activities, but are still able to function.