Sherman Peabody earns a monthly salary of $1,500, which
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Sherman Peabody earns a monthly salary of $1,500, which he receives at the beginning of each month. He spends the entire
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Sherman Peabody earns a monthly salary of $1,500, which he receives at the beginning of each month. He spends the entire amount each month at the rate of $50 per day. (Assume 30 days in a month.) The interest rate paid on bonds is 10 percent per month. It costs $4 every time Peabody sells a bond. a. Describe briefly how Mr. Peabody should decide how much money to hold. b. Calculate Peabody
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