Corry has an income of $80,000 that he is willing to spend over a year. If his bank account's interest rate is 3.05% and the cost associated for him to visit the bank is $5.00. What is Corry's average money holding? O a. $488.00 O b. $2,560.74 c. $5,000.00 O d. $16.00

Corry has an income of $80,000 that he is willing to spend over a year. If his bank account's interest rate is 3.05% and the cost associated for him to visit the bank is $5.00. What is Corry's average money holding? O a. $488.00 O b. $2,560.74 c. $5,000.00 O d. $16.00

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter17: Financial Markets

Section: Chapter Questions

Problem 3SCQ: Calculate the equity each of these people has in his or her home: Fred just bought a house for...

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Question

Corry has an income of $80,000 that he is willing to spend over a year. If his bank account's interest rate is 3.05% and
the cost associated for him to visit the bank is $5.00. What is Corry's average money holding?
O a. $488.00
O b. $2,560.74
O c. $5,000.00O
O d. $16.00
O Type here to search
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