Megan has $400 in cash from Christmas presents on Dec 31 2021.At beginning of January,,...
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Accounting
Megan has $400 in cash from Christmas presents on Dec 31 2021.At beginning of January,, February,March and April,2022, she receives certain revenues from her parents and pays certain college bills, as indicated in the table below. Any money left over can be invested for one month at an interest rate of 0.25%/month, for two months at 0.35%/month, for 3 months at 0.4%/month, or for 4 months at 0.5%/month.
Month Revenues. Bills
January 400 700
February 800 500
March 250 600
April 300 250
3.1 Problem
Determine the investment strategy that maximizes A. Students cash on hand at the beginning of May. (Of course, cash-on-hand cannot include money that is currently tied up in investments.)
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