Question A network of ATMs is run by I&M Bank. Analysts have gathered data stating each ATM averages 125 cash withdrawals per week (there are 52 weeks in a year). The average cash withdrawal is $75. Regardless of the amount of money used to replenish an ATM, the fixed cost of filling an ATM is $100. The bank incurs a 10% cost to hold a dollar annually. Using this information, fill in the below data: R and H answers below must be formatted using 2 decimal points with no dollar sign (example 5.14 or 25.00) R = $ H = $ How much cash should the bank keep in an ATM? $ Round the above answer up to the nearest whole dollar because ATMs do not carry change (assume the ATM dispenses any dollar amount and ignore keeping it to increments of $20 like real-world). Using the above answer, how often should the bank replenish the ATM? times per year (round answer to 2 decimal places)
Question
A network of ATMs is run by I&M Bank. Analysts have gathered data stating
each ATM averages 125 cash withdrawals per week (there are 52 weeks in a year). The average cash withdrawal is $75. Regardless of the amount of money used to replenish an ATM, the fixed cost of filling an ATM is $100. The bank incurs a 10% cost to hold a dollar annually. Using this information, fill in the below data:
R and H answers below must be formatted using 2 decimal points with no dollar sign (example 5.14 or 25.00)
R = $
H = $
How much cash should the bank keep in an ATM? $
Round the above answer up to the nearest whole dollar because ATMs do not carry change (assume the ATM dispenses any dollar amount and ignore keeping it to increments of $20 like real-world).
Using the above answer, how often should the bank replenish the ATM? times per year (round answer to 2 decimal places)
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