Minesotta bank has a local subsidiary, which requires $75,000 cash every week. It uses $safe armored trucks service for cash delivery. Service company charges $400 for each delivery.
Minesotta bank has a local subsidiary, which requires $75,000 cash every week. It uses $safe armored trucks
service for cash delivery. Service company charges $400 for each delivery.
In order to send cash to its subsidiary, the bank has to liquidate part of its securities portfolio which generates 15% annual return.
How many armored truck service trips PER YEAR should the bank order?
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