Decide How Much Cash to Hold Imagine that it is 10 years in the future. You are married
Chapter 17, Problem 29(choose chapter or problem)
Decide How Much Cash to Hold Imagine that it is 10 years in the future. You are married and have two young children. Every month you pay $800 for your rent, $300 for your car loan, and at least $1,900 in other costs of living. You are trying to save $300 from every paycheck to make a down payment on a house in a few years. You earn a salary that provides you with a take-home pay of $2,000 every two weeks. Your savings account currently pays 2 percent interest. How much of your bi-weekly pay would you take in cash, deposit in your checking account, and put in your saving account? How would your decision change if the interest rate on your saving account increased to 10 percent?
Unfortunately, we don't have that question answered yet. But you can get it answered in just 5 hours by Logging in or Becoming a subscriber.
Becoming a subscriber
Or look for another answer